02/09/2013
With the participation of experts and officials
Next week the Chamber start the forum (transformation of family companies into shareholding companies)
The Chamber is organizing next week specifically Wednesday morning after next (11/9/2013) junction (family business turned into joint stock companies), organized by the Chamber in cooperation with Saudi stock exchange (Tadawul) under the patronage of the President of the Council of the capital market authority, Mohammed bin Abdul Malik Al-Sheikh, with the participation of experts and representatives of some family businesses.
(Roayah) identified the forum to include ' the opportunity to come and meet with the financial market authority, the Saudi stock exchange (Tadawul), financial advisers and specialists in one forum to answer any questions related to the transition to a public company. That is done through the (message): ' review of the role of transformation in the preservation of continuity of the growth of the family business under the current economic challenges and preparing businessmen and owners of family firms for the importance of the application of the rules change , and to explain how to apply the transformation in family businesses . So the forum goals will be : ' awareness of the steps of conversion to a public company aimed at interested companies to shift , and to inform them about the previous experiences of the family companies listed, as well as to educate them about the challenges they might face and the opportunities in the Saudi stock market through panel discussions forum.
The Chamber's Chairman Abdulrahman Al Rashed said , the Forum will discuss the three subjects in three sessions, during which 9 specialized worksheets dealing with themes of the Forum, where the first (a family business), will be presented with four papers by a number of business owners of family firms into joint stock companies, while seeking the second theme (how to change from family to public stock companies) are under this axis displays three worksheets, while addressing the third axis Topic (governance in family firms), through the presentation of working papers. Al Rashid noted that there were a number of family businesses has been a huge success since the family firms, but added to the successes other successes after that turned into joint stock companies, the expansion of activity and level of performance, and the results were appreciated, so we had in the East Chamber to study these successes and to identify its causes and factors that contributed to that success, for circulation to other companies, aimed at the transformation of the family to contribute.
The Secretary General of the Chamber Abdul Rahman bin Abdullah Al wabel Said the forum is undertaken in collaboration between the Chamber and the Saudi stock exchange (Tadawul) to review highlighted positive results of the ' family business turned into joint stock companies ' and its role in maintaining the continuity of the family company, and the continuing success and growth and development, so the forum within its three axes three highlights the experiences of a number of family businesses and stories of transformation into joint stock companies, and stands on some of the challenges that have been overtaken by these companies in the transformation process, and the resulting effects on performance, expansion and profitability and creativity. From this point Alwabel mentioned that participants will view the parameters of transferring the family business to the public, and mechanisms for implementation, the expected economic impacts and implications of this transformation, it will address the topic of governance in family business, through which positive corporate performance, qualify for conversion into joint stock companies, owned by a large number of shareholders, rather than limited to the ownership of one family.
Alwabel concluded that this forum brought awareness message to all businessmen, owners of family businesses, and all those concerned to respect the importance of economic transformation in these companies, and the technical and legal aspects, through knowledge and ways and means of transformation, the local laws and prior experiences of the family companies listed on the Saudi stock market, as well as to make them aware of the challenges that might face them in this way, despite the many positives, not least because of the expansion of businesses and increase the area of activity.
