CMA currently mulls about 100 IPO, listing files: ElKuwaiz

Mohammed ElKuwaiz, Chairman of the Capital Market Authority (CMA)

The Saudi Capital Market Authority’s (CMA) Chairman Mohammed ElKuwaiz said that nearly 100 companies filed for initial public offerings (IPOs) in the Saudi Exchange (Tadawul) and Nomu-Parallel Market.

Several years after amendments and development, paired with the pandemic disruption, differences have emerged between listed and unlisted companies. Therefore, IPOs witnessed increased momentum. The CMA saw the highest number of listings since its establishment in 2021, ElKuwaiz added during the Family Business Forum at Al Yamamah University.

Family businesses play a very important role in the national economy. However, such entities face a myriad of challenges, primarily ensuring sustainability with the succession of generations, he explained.

Sustainability is important for family businesses to survive. Family charters usually play a pivotal role in their sustainability, the top official elaborated, adding IPOs play a key role in sustainability with the succession of generations and guarantees their existence.

The capital market became a source of corporate sustainability, as those companies are open to society and investors, who request the application of the best governance standards and reforms, he added.