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  • Ahmed Saleh

CMA's Q3 2023 bulletin highlights Saudi Capital Market trends

Riyadh, December 10, 2023, In a proactive effort to enhance transparency and disclosure while fostering the development of investments in the Saudi capital market, the Capital Market Authority (CMA) has issued the Quarterly Statistical Bulletin (QSB) for the third quarter of 2023.

The data presented in the QSB provides valuable insights into the state of the Saudi capital market, catering to participants, market analysts, and academic researchers. Here are some key highlights from the Q3 2023 report:

1. Listed Companies: The main market (TASI) saw an increase in the number of listed companies, reaching 230, representing a 6% growth compared to Q3 2022. Similarly, the parallel market "Nomu" experienced a substantial increase of 76%, with 67 listed companies in Q3 2023 compared to 38 in the same period last year.

2. Market Offerings: The CMA approved the offering of four companies on the parallel market "Nomu" during Q3 2023, with ongoing evaluations of 5 requests in "TASI" and 41 in "Nomu."

3. Foreign Investors: The value of qualified foreign investors' (QFIs) ownership in the main market reached SAR 290.07 billion in Q3 2023, showing a 3.5% year-on-year increase.

4. Investor Classification: Institutional investors' ownership accounted for 96.5% in Q3 2023, compared to 96.27% in the previous year.

5. Investment Funds: A record-high of 1,209 investment funds were recorded in Q3 2023, marking a 35.8% increase year-on-year. The number of public and private funds, along with subscribers, surpassed one million, demonstrating a 66% growth.

6. Corporate Governance: Sixty general assemblies were held in Q3 2023, attended by over 10,000 shareholders, with only 6 out of 561 discussed items being rejected.

7. Financial Technology (FinTech): The FinTech sector showcased notable developments, with 119,215 investors in Robo-advisory platforms, and a significant increase in the number and value of offered Sukuk through Debt Instruments Offering platforms.

The Quarterly Statistical Bulletin serves as a comprehensive resource, encompassing data on various aspects of the Saudi capital market, from IPOs and equity to debt instruments, investment funds, corporate governance, and the evolving landscape of FinTech. This data-rich report reflects the CMA's commitment to providing a robust foundation for informed decision-making and strategic planning within the Saudi financial ecosystem.

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