Specialists and academic participating  in the "Forum of  turning family business into a  joint stock companies" which is organized by the East  Chamber  in cooperation with the Saudi Stock Exchange companies (Tadawul)  discussing with His Excellency the chairman of the Council of the Capital Market  Committee Mohammed bin Abdullah Al Jadaan on the end of March 2016 regarding family status and future of the companies, under the growing need for them to be converted into joint stock companies, doing the utter  best to keep them and their achievements.
 Explained the chairman of the Council of East Chamber Abdulrahman bin Saleh Al ataishan, who added that the forum aims to review the role of turning companies from a family to contribute to maintaining the continuity and sustainability of their success and their growth and development, and the role of this shift in granting the companies the necessary ability in the face of current economic challenges.
According to this, Al ataishan said that the discussions forum in which the number of specialists and academics involved will be discussing several subjects, most notably how to shift from a family company to a public shareholding, governance and family businesses, in addition, the display of some of the experiences of family companies in the transition to joint-stock enterprises, and the most important steps they have taken in this aspect and the main benefits of this transformation.
Al ataishan  pointed  that the organization of the forum comes out of the chamber and Saudi Stock Exchange (Tadawul) interest in family businesses sector  and highlighting the most important practices in the transition to a contribution, to convey a clear message to companies wishing to switch to save their business from collapse and to help them develop and expand in the future.
Al ataishan  paid the attention  that the importance of the forum lies in dealing with a vital issue at the local scale since the family companies in the Kingdom  occupies a large  extent of the national economy, they are an important channel to attract local and foreign investments, and to attract, national workforce in particular, which enhances its position in the national economy.
The forum discusses number of prominent subjects : the transformation stages, and challenges facing contributing companies, the advantages of incorporation, as there are several tips and recommendations through.
some officials are discussing how to shift from a family company to contribution and listings Saudi  market, and the advantages and challenges of listing, and the financial market services, specialists also review main stages of  initial stating and the commitment of  company directors, and the factors of  primal success , as well as some of the important considerations in this regard and the stage of listing, and the role of capital market Authority in the listing process, disclosure and transparency, in addition to discussing the case of a listed company and the lessons learned from its experience.
And  some legislators explains the requirements of transformation the to public contribution, and the legal obligations between private and public companies, the most important governance rules, and the effect of disclosure and transparency as well as some of the important considerations in this regard, and the effect of the application of governance on the family contribution to corporate rules, and features and challenges after the application of governance, as well as discussing some advices in this regard.
Al  Ataishan calls for tourism investments associated with industrial growth in Jubail