A Saudi national committee for joint stock companies has been established at the Council of Saudi Chambers of Commerce and Industry (CSCCI). The committee will safeguard the interests of 77 listed companies. About 50 senior executives of the joint stock companies in the Kingdom as well as those intending to go public attended the first meeting of the committee, which will also lobby on their behalf with various ministries and government
agencies. According to Arab News, the setup of the council comes at a time
where 56 family-owned enterprises have applied to the authorities seeking to protect the interests of both joint stock and private limited companies planning to float IPO.
Al Bawaba
