RIYADH: Saudi Arabia will become the region’s most active market for IPOs and private equity investment if government plans to boost the economy are successful, according to experts set to speak at Euromoney Saudi Arabia Conference 2016 in May.
Recent projections by the Capital Market Authority (CMA) suggest that the Tadawul All Share Index will grow to 250 listed companies over the next seven years, up from its current total of 170.
An increase in the volume of IPOs — and particularly offerings such as the mooted listing of a stake in oil major Saudi Aramco — is likely to drive significant growth, in addition to the launch of a secondary market for SMEs.
Delegates will be able to learn more about the development strategy from an exclusive on-stage interview with Mohammed Al-Jadaan, chairman of the CMA, during the first day of the Euromoney Saudi Arabia Conference.
In addition, a special panel discussion will examine national and international perspectives on the rise of private equity in the Kingdom.
Senior executives from Derayah Financial, Almarai, QNB Capital LLC, NCB Capital and Albilad Capital will take part, reviewing the progress made during the first year since the passing of new laws enabling qualified foreign investors (QFIs) to invest in listed shares.
As part of the efforts to boost the exchange, Saudi Arabia is also looking to increase transparency and improve communication with investors, recently announcing plans to ask all companies trading on the exchange to submit ownership disclosures for senior executives.
Tariq Al-Sudairy, MD and CEO of Jadwa Investment, who will speak on the Saudi Financial Roundtable at the conference, said: “Despite some challenging recent quarters, we see positive signs ahead for the stock market.”
The announcement of the National Transformation Plan will reassure investors of the government’s commitment toward structural economic reform, helping the private sector to make more informed and confident investment decisions, said the CEO.
“We view this year’s Euromoney Saudi Arabia Conference as an important opportunity to discuss the transformative changes that are happening in the Kingdom,” he said.
The 2016 Euromoney Saudi Arabia Conference is co-hosted with the Ministry of Finance and takes place at the Al Faisaliah Hotel in Riyadh on May 3-4.
Other major speakers from the Kingdom include Finance Minister Ibrahim Al-Assaf, Economy and Planning Minister Adel M. Fakeih, Commerce and Industry Minister Tawfiq Al-Rabiah and Labor Minister Mufarrej Al-Haqbani.
National Transformation Plan to boost investor confidence
National Transformation Plan to boost investor confidence
No Saudi acquisition offers: FC Barcelona tells Al-Eqtisadiah
CAIRO: FC Barcelona has not received any offers, whether from Saudi Arabia or elsewhere, to acquire the club, according to an official source who spoke to Al-Eqtisadiah.
According to the source, the circulating news regarding the possibility of finalizing a deal to acquire the club in the coming period is a mere rumor.
Recent Spanish reports had indicated the possibility of a Saudi acquisition of Barcelona shares for around €10 billion ($11.7 billion), a move considered capable of saving the club from its financial crises if it were to happen, especially as it suffers from debts estimated at around €2.5 billion.
Sale not in management’s hands
Joan Gaspart, the former president of the club, confirmed that the current board of directors, chaired by Joan Laporta, does not have the right to dispose of the club’s ownership.
He added: “FC Barcelona is owned by about 150,000 members, and selling the club is something the owners will not accept. FC Barcelona possesses something no other club in the world has; money is very important, and so is passion, but the sentiment of the members today is to continue what the club has been for 125 years.”
High market value
Despite the financial crisis the club has been going through in recent years, FC Barcelona ranks sixth on the list of the world’s highest market value clubs, with an estimated value of €1.12 billion, according to Transfermarkt. Meanwhile, its rival Real Madrid tops the list with a market value of €1.38 billion.
