Under the patronage of His Excellency the Chairman of the Board of the Capital Market Authority, Asharqia Chamber and Tadawul launch the Listing in the Financial Market Forum Today.
Al-Khalidi: The forum serves as an awareness message to the companies in the Eastern Region.
Al-Wabel: The Chamber takes the common culture of institutionalization and transformation among the companies of the region as a target.
Under the patronage of His Excellency the Chairman of the Board of the Capital Market Authority "CMA", Mohammed bin Abdullah Al-Quwaiz, Asharqia Chamber in cooperation with the Capital Market Company "Tadawul" launch the "Listing in the Financial Market" Forum on Sunday May 6th at the Chamber's headquarter. The Forum is going to be attended by a group of local experts in the field of placement and listing in the financial market, during which many ideas are going to be provided regarding the role of the financial market in the growth of companies.
Awareness message
The Chairman of the Board of Asharqia Chamber, Abdul Hakim bin Hamad Al-Ammar Khalidi, said that the forum is going to be attended by a group of experts in the fields of turning companies to contribution. The experts are scheduled to present several working papers related to the procedures and preparation of the listing, methods of evaluating the companies, the challenges facing companies, and the most important changes and the new rules of placement and listing. He pointed out that it is an opportunity for the business sector in the Eastern region to attend and meet with the Capital Market Authority, the Saudi Stock Exchange "Tadawul," and financial and legal advisors specialized in the listing and placement of companies in financial markets.
Al-Khalidi stressed that the forum serves as an awareness message directed by the Chamber to companies in the Eastern Province in order to move towards listing in the financial market, as it represents an attractive channel to the investments and the growth of the national economy, and saves business and supports its sustainability and growth. This reflects positively on the national economy and its objectives of diversification in its economic sectors. He expressed his optimism about the developmental steps in the financial market, which is implemented by the national will within the system of diversification of economic resources that deepened the market's attractiveness and efficiency of performance within.
Challenges of Listing Family Business
Al-Khalidi emphasized that the forum will present the experiences of successful local companies that have already been included in the financial market in order to draw lessons from their listing experience and then disseminate them to the business sector in the region. He pointed to the role of Asharqia Chamber in raising the awareness of the business sector of the importance of listing in the financial market because it helps in the stability of the business and in the rising indicators of growth.
Al-Khalidi explained that the forum allocates a large area to discuss the challenges of listing the family business, the impact of listing on its growth and sustainability, as well as the challenges faced by the companies themselves in terms of development, modernization, and direction to the path of placement and listing in the financial market. He stressed that the listing in the financial market for family businesses reach to stability, expand its activities, and push them to sustainability, which is certainly in the interest of the national economy and its growth on a sustainable basis.
Clear message
Asharqia Chamber Secretary, Abdulrahman bin Abdullah Al-Wabel, stated that the forum comes from the interest of Asharqia Chamber in the topic of the placement and listing in the financial market, as it wants to convey a clear message to "the business owners about the importance or even the necessity of turning their companies to contributions. This is what would keep their businesses from collapsing." He pointed out that the forum falls within the framework of the Chamber's direction to support and raise awareness of the business sector the importance of becoming a public contribution, especially family businesses. He pointed out that the Chamber is taking the responsibility of tow main things: firstly, it takes the popular culture of institutionalization and transformation among the companies of the region as a target; and secondly, it takes the access to the sustainability of business as well. It is because they are the targets in the Saudi Economy. He stressed that the chamber and Tadawul are keen to attract a group of expert houses, experts, and representatives of local companies in order to draw lessons from their experience in listing. The two partners play an important role in raising the awareness of the business sector about the importance of the listing in the financial market because it provides stability of the business and the rise in indicators of growth is increasing.
Three sessions
Al-Wabel explained that the forum discusses a number of topics with importance in the issue of listing and placement in the financial market, the positives and challenges of post-listing in the market, as well as reviewing the experiences of some companies in the decision to put their shares in the financial market.
He pointed out that the program of the Forum was divided into three sessions. The first is going be chaired by Mr. Saad Al-Hasossa, CEO of Middle East Oil Trading Company. Then, Abdulrahman Moulay, Ernst & Young's partner, talks about the challenges facing family businesses in developing their businesses. After that, Nayef Al-Athel, Director of Listing Management at Tadawul, discusses the role of the financial market in its growth, in an attempt to emphasize the role of family businesses and the need to research related topics related to its sustainability and growth. Mohammed bin Hamad Al-Mady,
The second session is going to be chaired by Mr. Turki Fadak, Director of Research and Consultancy at Al Bilad Finance, Director of M & A Department in the Capital Market Authority, discusses the most important changes in the rules of placement and listing. The Vice President of Banking Investments at NCB Capital, Abdulaziz Bahiri; the Director of Investment Banking Group at FALCOM, Rami Atwan; the Head of Investment Banking at Musharaka Capital, Mazen Al-Dandashli; and the Vice President of Banking Investments at NCB Capital, Sultan Al Mousa will discuss the readiness of the company, the preparation of the file of public listing, and ways of evaluating companies.
The third session is going to be chaired by Dr. Jassim Al Rumaihi, Chairman of the Board of Directors of Gerab National Projects Company Limited. Abdulrahman Moulay and Sami Al Lozi, White & Case partner, discuss the subject of corporate governance and legal challenges. Mr. Jamil Abdullah Al-Mulhim, the general manager of Takween Advanced Indusries, provides a presentation of the success story of the formation of the company.
