|
Dubai: Shuaa Capital, a leading regional financial services firm, is promoting investment opportunities in Saudi Arabia at a conference in London.
The company said yesterday the Saudi Capital Market Authority has granted a brokerage licence to its subsidiary, Shuaa Capital Saudi Arabia.
"Saudi Arabia offers investors, at this time of unprecedented financial turmoil, one of the few emerging economies with a real and exciting opportunity for growth," Shuaa said in a statement.
Companies attending the conference include Al Marai, Dar Al Arkan, Emaar Economic City, Mobily, Maaden, Red Sea Housing, Saudi Cables, SABB (Saudi British Bank), Saudi Research and Marketing Group, Saudi Telecom and Astra Industrial Group.
Saudi Arabia has a strong commitment to improving its social and economic infrastructure and has developed an expansionary fiscal policy, made possible by surpluses generated by its hydrocarbon exports.
Saudi Arabia will continue to see the development of major projects, including the King Abdullah Economic City, the Trans Saudi Railway and a doubling of its power generating capacity, according to a Shuaa statement. The December 2-3 conference has brought together blue-chip companies from Saudi Arabia and premier international institutional investors.
'Modernising agenda'
"Saudi Arabia's modernising agenda and strong fundamentals create opportunities for many listed companies, especially after the Saudi Capital Markets Authority's decision to allow international investors access to the Saudi stock exchange," said Omar Al Jaroudi, CEO of Shuaa Capital Saudi Arabia
"Our conference comes at the best time to reach out to leading international institutional investors and will give direct access to the senior management of the key Saudi Arabian companies while offering US and European investors a unique opportunity to make better and more informed decisions," he added.
Following receipt of the brokerage licence, Shuaa Capital Saudi Arabia will be authorised to commence offering its international clients access to companies listed on the Saudi stock exchange, Tadawul.
In August 2008, the Saudi Capital Market Authority allowed non-resident foreign investors to conclude swap agreements with local authorised entities who would retain the legal ownership of the shares.
Mohammad Al Oraini, from Treasury at Maaden, one of the participating companies, said: "Saudi Arabia has an exciting story to tell as it revamps its economy. This conference can only serve to increase international investors' understanding of the country's macro economics, as well as give an insight into the fundamentals of the Kingdom's leading companies."
|
