The exchange, which has a market capitalization of US$590 billion, is the biggest in the Middle East.
Saudi Arabia represents approximately 50% of the US$1.6 trillion Gulf economy and is the 19th largest economy in the world. For international investors the opening of the Saudi Stock Exchange represents an opportunity to gain access to one of the largest emerging and growing market exchanges in the world.
Adel Al-Ghamdi, CEO of the Saudi Stock Exchange, commented on the opening:
“We are excited to welcome foreign investors to our exchange. This is an important and considered next step in a long journey that will continue the development of the exchange, enhance governance among listed businesses and improve research and knowledge in the market”.
The opening represents a further step in a journey that has enabled the Saudi Stock Exchange to build up one of the largest, most liquid emerging market exchanges. The Saudi Stock Exchange has created a transparent market in which QFIs can invest in confidence.
The Saudi Stock Exchange, as affiliate members of the International Organization of Securities Commissions (IOSCO), are in London to attend the 40th annual IOSCO Meeting and Conference, represented by the CEO, Adel Al-Ghamdi. The Saudi Stock Exchange is attending alongside other leading exchanges and regulators to discuss developments in capital markets around the world.