Riyadh, Feb 12, 2023: At today’s Saudi Capital Market Forum in Riyadh, Adena Friedman, Chair and Chief Executive Officer of Nasdaq, heralded Saudi Arabia’s vision and leadership as key success factors in building a globally competitive capital market: “This region is one of the fast-growing in the world. Saudi has done a tremendous job of bringing capabilities into the market so they can compete with global mature markets. It’s a testament to amount of focus, energy and leadership in the country.”

As a result, she noted that the IPO environment is vibrant in Saudi Arabia, echoing earlier comments from H.E. Mohammed El Kuwaiz, Chairman, Capital Market Authority, who revealed that there are 23 companies on the runway for IPO in 2023, having been approved by the Capital Market Authority, with almost 80 files currently under review.  

She spoke in a fireside chat with Yousif Jamal El Din.