The Saudi Capital Market Forum 2023 Concludes in Riyadh

Riyadh, 13 February 2023: Saudi Tadawul Group concludes the Saudi Capital Market Forum 2023, held under the patronage of HE. Mohammed El-Kuwaiz, the Chairman of the Capital Market Authority. Building on the success of last year’s inaugural event, and significant traction in the sector over the last 12 months, the event saw over 2600 attendees participate in more than 2400 meetings, as well as the signing of 12 key agreements. Over 330 investors represented more than 130 international investment firms, joined by more than 100 corporate organizations from the region, and beyond.

Held over two days, the Saudi Capital Market Forum 2023 brought together opinion leaders, issuers, investors, and governmental entities to explore key issues facing the industry and the evolution of global capital markets, as well as showcase the efforts of Saudi companies in meeting global ESG standards. It also fostered discussion around digital innovations driving the industry forward, such as open banking, and highlighted the role of fintech in supporting SME growth in the Kingdom.

Key speakers include H.E. Mohammed El-Kuwaiz, Chairman of the Board of the Capital Market Authority; Adena Friedman, President and CEO of Nasdaq; Sarah Alsuhaimi, Chairperson of Saudi Tadawul Group; and Amin H. Nasser, President and CEO of Aramco.  

Eng. Khalid Al-Hussan, Saudi Tadawul Group CEO, commented: “As we close the second annual Saudi Capital Market Forum, under the patronage of His Excellency Mohammed El-Kuwaiz, Chairman of the Capital Market Authority, it’s clear that Saudi Arabia has made significant progress in establishing an advanced capital market. Building on our traction over the last year, this flagship event has set the stage for the Saudi capital market’s progress in connecting to international markets, championing ESG, and leveraging the power of data and technology to drive innovation.”

A series of strategic agreements were announced between the Saudi Tadawul Group and the following entities:

Ministry of Economy and Planning, and the Capital Market Authority of Saudi Arabia

The agreement brings together the three entities with shared objectives to drive the sustainable development and long-term success of Saudi Arabia’s capital market, as well as advance ESG industry standards.

Clarity AI

The agreement with Clarity AI will help to deliver deeper understanding and knowledge sharing around ESG, for companies in Saudi Arabia and across the MENA region. Through the collaboration, several dedicated platforms will be created to enable publicly traded companies to provide ESG data as well as benchmark their performance against international standards.

The Forum concluded with the presentation of the Saudi Capital Market Awards, in collaboration with CFA Society Saudi Arabia and the Middle East Investor Relations Association (MEIRA).

The Saudi Capital Market Awards were established to recognize those demonstrating industry excellence and best practice across a variety of areas.

This year’s Saudi Capital Market Award winners are:

·       Best IPO - Main Market - Arabian Drilling

·       IPO Nomu - Parallel Market - Jahez International Company

·       Best Direct Listing Award - Saudi Azm Company

·       Best Private Placement Award - Impact 46

·       General Clearing Member Award - Saudi British Bank (SABB)

·       Direct Clearing Member Award - Derayah Financial

·       Best Broker Award - SNB Capital

·       Best Custodian Award - Northern Trust

·       Best Research House Award - EFG-Hermes

·       Best Equity Capital Market House Award - SNB Capital

·       Best Debt Capital Market Award - Al Rajhi Capital

·       Best Merger and Acquisition House Award - HSBC

·       Best Asset Manager Award - Jadwa Investment

·       Most Active Derivatives Award - SNB Capital

·       Investment Bank Award - SNB Capital

·       Investor Relations Award - SABIC

·       ESG Award - SABIC