The Al-Eqtisadiah newspaper announced the involvement of government agencies, the largest owner in the Saudi stock market, of shares in the Kingdom.
In a report based on data from Saudi Stock Exchange Company “Tadawul” monitored by its reporting unit, “Al-Eqtisadiah” indicated that “the involvement of government agencies, the largest owner of Saudi stock Saudi market, rose at the end last May to reach 78.03% (9.66 billion riyals) of the market, compared to 76.34% (9.52 billion riyals) at the end of last April.
The newspaper report states that “the property value of government agencies at the end of May was the highest ever, benefiting from Saudi Aramco’s high record of action and the acquisition of an investment fund of a stake in the Kingdom. Holding. ” Companies, while the participation of government agencies is the highest since March 2021 when it was 79.01%.
According to Al-Eqtisadiah, “the Public Investment Fund’s purchase of a 16.87 percent stake in Kingdom Holding Company, worth 5.68 billion riyals, took place in May, while Saudi Aramco’s stake posted an all-time high. 43.35 riyals, after bonus shares ”, raised its market value to 9.54 trillion riyals at the time, before dropping later.
Regarding foreign investment, “Al-Eqtisadiah” stated in its report that foreign purchases increased in the five months of this year by 214%, to reach 35.2 billion riyals, compared to 11.2 billion riyals in the same period of 2021 ”. mentioned that “foreign purchases at the time exceeded their flows. In the past year in total, they reached 25.5 billion riyals, reflecting the positive outlook of foreigners on the market and its attractiveness to them, in light of the strong growth of the Saudi economy in 2021 and its recovery from Corona, in addition to expectations of strong growth in 2022 and budget changes to record surpluses, in addition to substantial government spending within Vision 2030 and a partner program of which companies benefit from the market.
The report added that “for 42 months, since December 2018, foreign investors have continued to register net purchases in Saudi shares, except for just two months, March 2020, in conjunction with the height of the Corona pandemic. , and December of 2020, while its purchases since the beginning of 2019 reached approximately 163.6 billion riyals, with a growth of 305.6%.
And the “AlEqtisadiah” report states that the value of foreign investments in Saudi stocks reached 387.1 billion riyals at the end of last May, worth 3.13% of the market value of approximately 12.34 trillion riyals. . at the end of the same period, while foreigners recorded net purchases of approximately 2.2 billion riyals with the market index down 5.9% in May.
Source: “The Economist”
Source: Arabic RT
