In Cooperation with Tadawul, CITC Holds Workshop on "The IT Companies' Journey to Listing on the Financial Market"

The Communications and Information Technology Commission held its third educational workshop this year on "The Journey of Listing IT Companies on the Financial Market," aiming to shed light on the importance of listing local companies on the main and parallel (Nomu) financial markets, in cooperation with the Saudi Exchange "Tadawul."

The workshop, in which 130 companies participated, began with an overview of the financial market and an introduction to the listing requirements on the main market and the parallel market (Nomu), alongside the direct listing mechanism, as well as how to benefit from the listing readiness assessment tool, in addition to assistance in appointing a financial advisor.

The workshop also sought to introduce the impact of listing local IT companies on the market, and to understand the positive return from listing and the resulting increase in company capital, easier access to investors, and increased opportunities to obtain investment projects.

The workshop comes as part of the Commission's role as sector regulator, and its continued role in developing the competitiveness of the IT sector, and raising awareness among IT companies by gaining a comprehensive view of the importance of listing on the financial market, correcting some common misconceptions about listing, alongside increasing awareness of its importance and the resulting benefits.

It is noted that the information technology and emerging technologies sector is one of the most promising sectors that helps develop the digital economy and maximize the performance of financial markets, as the number of technology companies listed on the financial market rose from 4 companies at the end of 2021 to 9 companies, an increase of 125%, while the Commission looks forward to working with its partners to support and enable companies to list, in pursuit of achieving the goals related to Saudi Vision 2030.