LONDON: SHUAA Capital, Middle East’s leading financial services institution, yesterday launched the two-day Saudi Arabia Investor Conference in London. The conference, taking place at the Mandarin Oriental, Hyde Park, London, brings together blue-chip companies from Saudi Arabia and premier international institutional investors. SHUAA Capital also announced yesterday that the Saudi Capital Market Authority has granted a brokerage license to its subsidiary SHUAA Capital Saudi Arabia.
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.
Omar Al-Jaroudi, chief executive officer of SHUAA Capital Saudi Arabia, said: “Saudi Arabia’s modernizing 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. 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.”
Following receipt of the brokerage licence, SHUAA Capital Saudi Arabia will be authorized 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 authorized entities who would retain the legal ownership of the shares.
Mohammed Al-Oraini, from the Treasury at Maaden, one of the participating companies, commented; “Saudi Arabia has an exciting story to tell as it revamps and grows its economy. This conference can only serve to increase international investors’ understanding of the country’s macroeconomics as well as give a detailed insight into the fundamentals of a number of the Kingdom’s leading companies all of which are positioned to make the most of this dynamic period.”
SHUAA Capital has a strong track record of offering regional access, research coverage and investment services as well as promoting the GCC as a destination of capital.
