Kamco Invest considers business expansion, focuses on different sectors: Executive

Jarrah Al Naser, Acting CEO of Kamco Invest Saudi 

Kamco Invest Saudi plans to expand its business portfolio, with a focus on different sectors, Acting CEO Jarrah Al Naser told Argaam on the sidelines of Euromoney Riyadh Conference.

He added that Kamco Invest Saudi is a 100%-owned subsidiary of Kuwait’s Kamco Invest, and its main business is focused on investment, securities management as well as bond issuance and marketing inside the Kingdom, in addition to selling properties in the US and Europe.

Al Naser pointed to the diversity of the company's assets in most sectors, indicating that the Saudi market is diverse and deep, and includes multiple opportunities.

The company is keen to select the best opportunities, as it follows a conservative strategy in selecting stocks after conducting analytical studies.

The company's investment fund on the Saudi Exchange (Tadawul) rose more than 9% during the first seven months of 2022, outperforming Tadawul All Share Index (TASI), the top executive said, noting that the fund’s size amounted to nearly SAR 1 billion.  

Tadawul is the largest market in the region, and it is10 times larger than the Kuwaiti market in size. Thus, the parent company aspires its Saudi subsidiary becomes larger than its business.

Al Naser pointed to the possibility of dual listing of the parent company in the Saudi market, but the decision is pending the approval of the group’s management.