Latest news with #CapitalMarketAuthority
Argaam
5 days ago
- Business
- Argaam
Individual investors start subscription to 10.25M shares of flynas on TASI today
flynas launches today, May 28, a retail offering for 10.25 million shares on the Main Market (TASI) at SAR 80 each, as determined by the book-building process. The shares allocated to individual subscribers represent 20% of total shares on offer. Last March, the Capital Market Authority (CMA) approved the company's application to list and offer 51.3 million shares on TASI, representing 30% of its post-IPO capital.
Barnama
7 days ago
- Business
- Barnama
Saudi Arabia Expands Foreign Market Access With Offshore Securities Licence
KUALA LUMPUR, May 26 (Bernama) -- Over the past decade, Saudi Arabia's Capital Market Authority (CMA) has steadily opened its financial markets to global investors, attracting foreign holdings of nearly 423 billion Saudi riyals by the end of 2024. (100 Saudi riyals = RM112.50) A key milestone in this transformation is the introduction of the Offshore Securities Business Licence, aimed at cementing the Kingdom's role as a regional and global financial hub, according to a statement. The journey began in 2015 with the Qualified Foreign Investor (QFI) programme, which replaced indirect access through swap arrangements with direct market participation.
Argaam
20-05-2025
- Business
- Argaam
Saudi stock market boosted regional, global standing in 2024: Elkuwaiz
Mohammed Elkuwaiz, Chairman of the Capital Market Authority (CMA), said the Saudi stock market enhanced its standing both regionally and globally in 2024. He added that the market ranked first among G20 countries in several global indicators, including financial markets, market capitalization, shareholders' equity, and venture capital. Commenting on the CMA's 2024 annual report, Elkuwaiz noted that the market recorded a historic leap in assets under management, surpassing SAR 1 trillion by the end of 2024. Additionally, exchange-traded funds (ETFs) soared 935% compared to 2023, while funds of funds surged 126.5% to more than SAR 10 billion. As for the sukuk and debt instruments market, the Chairman highlighted that the value of issuances leapt 20% to SAR 663.5 billion, with total proceeds of SAR 40.4 billion. This reflects the growing role of the market in financing major national projects. Regarding investor protection, Elkuwaiz pointed out that the compensations awarded as per final rulings of the Committee for Resolution of Securities Disputes exceeded SAR 389 million, an increase of 59% compared to 2023. This coincided with a reduction in the average litigation duration to approximately four months.
Arab News
20-05-2025
- Business
- Arab News
Foreign investment in Saudi capital market reaches $58bn amid global ranking gains
RIYADH: Net foreign investments in Saudi Arabia's capital market rose to SR218 billion ($58.1 billion) in 2024, a 10.1 percent increase over the prior year, highlighting sustained international interest in the Kingdom's financial system. Total foreign ownership in the main market reached SR423 billion, accounting for 11 percent of total free float shares, according to the Capital Market Authority's annual report. The rise reflects sustained global interest in the Kingdom's financial markets, which have benefited from a series of regulatory reforms and broader efforts to increase market transparency and accessibility. As part of Vision 2030, Saudi Arabia is working to diversify its economy and position itself as a regional financial hub, with capital market development seen as a key pillar in that strategy. The Kingdom also earned international recognition for its capital market performance and reform agenda. In the 2024 World Competitiveness Yearbook issued by the International Institute for Management Development, Saudi Arabia ranked first among G20 nations in four capital market indicators. 'The Kingdom ranked first in the Capital Market Index, Stock Market Capitalization Index, Shareholders' Rights Index, and Venture Capital Index. Overall, Saudi Arabia saw improvements in 8 out of the 12 capital market related indicators included in the report,' the report stated. One of the 13 Vision Realization Programs under Saudi Arabia's Vision 2030 is the Financial Sector Development Program, which aims to deepen and enhance the financial industry. The program focuses on making the sector more open, transparent, and appealing to both domestic and international investors, directly supporting efforts to increase foreign participation in the Kingdom's capital markets. CMA Chairman Mohammed El-Kuwaiz said the report reflects the significant transformation underway in the capital market and emphasized its strengthened global position. He noted that the strategic plan for 2024–2026 is aimed at deepening the market, enhancing liquidity, broadening the investor base, and improving competitiveness — all of which support the goals of Saudi Vision 2030.
Economy ME
20-05-2025
- Business
- Economy ME
Saudi capital market's AUM grows 20.9 percent to record $266.6 billion in 2024, says CMA
The value of assets under management in the Saudi capital market exceeded SAR1 trillion ($266.6 billion) for the first time by the end of 2024, recording a growth rate of 20.9 percent compared to the previous year, said the Capital Market Authority (CMA) in its latest 2024 Annual Report. The report highlighted exceptional achievements and record-breaking figures across various regulatory, legislative and developmental areas, reinforcing Saudi Arabia's position as an attractive destination for both local and international investment and demonstrating the rapid progress toward the goals of Saudi Vision 2030. Value of listed sukuk and debt instruments surges 20.6 percent The CMA revealed that the number of investment funds rose to 1,549, while the number of subscribers in public and private funds exceeded 1.72 million, an increase of 47 percent compared to 2023. In 2024, the CMA prioritized the development of the sukuk and debt instruments market, which positively impacted the market through the approval of the largest set of regulatory enhancements since the market's inception. These included easing regulatory requirements and expanding the category of qualified investors. With regulatory support, the total value of listed sukuk and debt instruments in the Saudi capital market reached SAR663.5 billion by the end of 2024, compared to SAR549.8 billion at the end of 2023, reflecting a growth rate of 20.6 percent over the year. 2024 also witnessed growth in public offerings and equity registrations, with the CMA approving 60 applications, an increase of 36.4 percent compared to 2023, including 40 applications in the Parallel Market and 16 in the Main Market. A total of 44 listings were completed in both markets during the year, marking continued strong activity in IPOs. Net foreign investments hit SAR218 billion In terms of foreign investment, the Saudi capital market continued to achieve record levels, with net foreign investments reaching SAR218 billion by the end of 2024, compared to SAR198 billion the previous year, an increase of 10.1 percent. The value of foreign ownership also rose to SAR423 billion, representing 11 percent of the total free float shares in the Main Market. As for the licensing and supervision of Saudi capital market institutions, the number of licensed institutions rose to 186 by the end of 2024. Revenues of capital market institutions also increased by 29.6 percent compared to the previous year, reaching SAR17 billion, while their profits grew by 39.3 percent to SAR8.8 billion. Saudi Arabia leads G20 countries in key market indicators The report also highlighted Saudi Arabia's leading position among G20 countries in several international financial market indicators, according to the 2024 World Competitiveness Yearbook issued by the International Institute for Management Development (IMD). The Kingdom ranked first in the Capital Market Index, Stock Market Capitalization Index, Shareholders' Rights Index, and Venture Capital Index. Overall, Saudi Arabia saw improvements in 8 out of the 12 capital market-related indicators included in the report. The report also highlighted the CMA's continued efforts to enhance investor protection tools. In 2024, the CMA completed the handling of 121 cases, while compensation awarded to affected investors exceeded SAR389 million, distributed among 921 beneficiaries. The average litigation period decreased to 4.4 months compared to 5.5 months in 2023. Additionally, the CMA issued enforceable decisions against 171 violators of the laws and regulations under its jurisdiction, and followed up on 45 enforcement requests. Read| Saudi Arabia: Tadawul's market cap grows 463 percent in 10 years, fueling economic transformation CMA marks key advancements in 2024–2026 strategic plan Commenting on the report, His Excellency Mohammed bin Abdullah Elkuwaiz, chairman of CMA, said that the authority approved its strategic plan for the years 2024–2026, in line with emerging economic developments. The plan includes nine objectives distributed across three strategic pillars: Activating the capital market's role in financing and investment. Empowering the capital market ecosystem. Protecting investor rights. He noted that the plan was developed based on a comprehensive analysis of the capital market sector and through alignment with stakeholders to identify key areas for improvement and development. Elkuwaiz further explained that the annual report reflects the profound transformation taking place in the Saudi capital market, confirming that 2024 witnessed significant developments that contributed to enhancing the regional and global standing of the Saudi capital market. This was evident in the increase in assets under management, the value of fund of funds, and exchange-traded funds, all of which reached record levels compared to the previous year. These achievements, along with the CMA's efforts to deepen the market, introduce regulatory enhancements, expand the investor base, improve liquidity and market stability, and boost competitiveness, are driving sustainable growth.
