EFG Hermes, Saudi Exchange showcase Saudi investment potential

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EFG Holding’s investment banking unit, EFG Hermes has kickstarted its EFG Hermes Saudi Forum in London under the theme of ‘Looking for Sustainable Growth’.

The two-day event is being held in collaboration with the Saudi Exchange and will play host to over 50 leading Saudi companies, including the Saudi Capital Market Authority (CMA), the Public Investment Fund as well as over 200 institutional investors and fund managers from over 120 global investment firms.

The first of EFG Hermes’ flagship London conferences since 2019, this iteration is solely dedicated to the Kingdom of Saudi Arabia.

The EFG Hermes Saudi Forum in London features prominent guest speakers, including Mohammed A. El-Kuwaiz, the chairman of the CMA board and Mohammed Al Rumaih, CEO of the Saudi Exchange. From EFG Holding, group CEO Karim Awad was in attendance together with Mohamed Ebeid, co-CEO of EFG Hermes and Saud Altassan, CEO of EFG Hermes in Saudi Arabia.

“The EFG Hermes Saudi Forum in London will serve as a platform to showcase Saudi Arabia’s investment-friendly landscape, diverse sectors, and transformative Vision 2030 initiatives,” said Mohamed Ebeid, co-CEO of EFG Hermes.

“It represents a remarkable opportunity to foster deeper connections and understanding between Saudi-listed companies and Emerging Market (EM) investors.”

EFG Hermes spotlights Saudi potential

Despite being the sixth-largest index in terms of market capitalisation in the MSCI Emerging Market Index, Saudi Arabia continues to be under-represented in the portfolios of EM investors.

Ebeid said the conference is a testament to EFG Hermes’ confidence in Saudi Arabia’s growing capital market and its commitment to creating fruitful opportunities for EM investors.

The Saudi market is one of the largest and most liquid EM indices, with a market capitalisation of over $3tn as of September 2023.

The market has been attracting increased foreign inflows since its inclusion in major global indices such as the MSCI Emerging Markets Index in 2019 and FTSE Russell’s Emerging Markets Index in 2018.

It offers exposure to a wide range of sectors benefiting from Saudi Arabia’s strides to diversify the economy and implement strategic reforms under Vision 2030.

“As we continue to undergo transformative reforms and enhancements to our regulatory framework, market infrastructure, and product offerings, we remain committed to providing a world-class platform for investors and issuers looking to capitalize on the diverse opportunities in Saudi Arabia,” said Mohammed Al Rumaih, CEO of the Saudi Exchange.

The kingdom has emerged as a global investment powerhouse, attracting investors from all corners of the world as it continues to buck global economic headwinds, with equities showing attractive valuations and dividend yields compared to regional and global peers.

The investment conference seeks to build on this momentum and highlights the kingdom’s potential across sectors such as finance, technology, energy, infrastructure and tourism.

It will offer a platform for presenting companies to showcase projects and initiatives that create avenues for investment and innovation. Investors will have a chance to explore potential collaborations, forge strategic partnerships, and gain first-hand knowledge of the kingdom’s investment climate.

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