Latest news with #MohammedElkuwaiz
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.
Argaam
12-05-2025
- Business
- Argaam
Past years witness strong efforts to boost new listings: Elkuwaiz
Mohammed Elkuwaiz, Chairman of the Capital Market Authority (CMA), said past years have seen major efforts to promote listings on the Saudi financial market and expand funding options for small and medium enterprises (SMEs). Speaking at the 'Enterprise Support Council' during 'Finance Week' hosted by Monshaat, he said SMEs now make up 30% of listed companies. After expanding their businesses, 14 of these moved from Nomu to the main market, demonstrating the CMA's ability to create an atmosphere that is conducive to investment. Elkuwaiz noted that Saudi companies now have access to nine financing channels, most of which were developed in recent years, describing Nomu's launch as a key reform to attract more companies to the market, the Saudi Press Agency (SPA) reported. Since its launch, Nomu's main index has grown tenfold. Market capitalization jumped 26x to nearly SAR 60 billion by the end of last year. Liquidity also rose significantly, with 2024 trading value reaching SAR 14 billion, eight times higher than earlier levels. The CMA reviewed all listing and offering requirements to align with global standards. It introduced direct listings and worked with regulators to ease rules, helping SMEs access the market more efficiently. He said the CMA, alongside other agencies, launched over 14 incentives to support listings and new IPOs, including changes to government procurement laws, credit rating frameworks, and evaluation processes for listed firms. Fintech has become a key player in the capital market. Sector revenues surged 105% in 2024 versus 2023, he added. Elkuwaiz stressed the importance of credit ratings, especially for debt-based financing, as vital tools to support market growth and sustainability.
Zawya
27-01-2025
- Business
- Zawya
Saudi CMA chief says 20% of 55 IPOs under review are from real estate companies
Nearly 20% of the 55 initial public offerings (IPOs) currently under review in Saudi Arabia are from real estate companies, according to the chairman of Capital Market Authority (CMA) Mohammed Elkuwaiz. Speaking at a panel discussion at the Real Estate Future Forum in Riyadh on Monday, he revealed that assets under management (AUMs) by real estate funds increased 23% last year, representing 25% of total AUM in Saudi Arabia. The total value of managed assets exceeded SAR 1 trillion, he said. In September 2024, Elkuwaiz said that more than 50% of the 70 companies recently listed on the Saudi financial market are small and medium-sized enterprises (SMEs). (Editing by Brinda Darasha;
