Quality and profitability of companies coming to market has enhanced since the implementation of the National Transformation Program – anb Capital CEO

Riyadh, 19 February 2024: Khalid Al Ghamdi, CEO of anb Capital, asserted that the increase in the average size of IPOs since the implementation of the National Transformation Program (NTP) indicates an enhancement in the quality and profitability of companies coming to market. He added that, as a result of NTP, the average size of IPOs has increased to US$450 million from US$367 million. 

During a panel session at the third Saudi Capital Market Forum, Al Ghamdi stated that the Saudi Stock Exchange raised a total of US$21 billion between 2016 to 2023, excluding Aramco, which is equivalent to what was raised in the eight-year period prior to the implementation of the NTP.