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Middle EastApril 27 2023

Saudi Arabia’s booming capital markets

Mohammed Bin Abdullah Elkuwaiz, chairman of Saudi Arabia’s Capital Market Authority, talks to John Everington about the surge in local listings, and the regulator’s plans for tokenised and virtual assets.
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Saudi Arabia’s booming capital markets

Q: Saudi Arabia and the Middle East defied the global trend of reduced listings in 2022. What is the outlook for the coming year?

A: Last year was a record year for us, with nearly 50 listings overall, including initial public offerings and direct listings. It was almost a record year in terms of fundraising as well, with around SR40bn ($10.7bn) of capital raised. This was second only to 2019, which saw the listing of Saudi Aramco.

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John Everington is the Middle East and Africa editor. Prior to joining The Banker, John was the deputy business editor of The National in the UAE, and has also worked for Dealreporter, Arab News and The Telegraph. He has also covered the telecom sector in Africa and the Middle East, living and working in Qatar and the UK. John has a BA in Arabic and History and an MA in Middle Eastern Studies from the School of Oriental and African Studies (SOAS) in London.
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