NEOM To Sell Shares Worth $266 bln in 2024

Saudi Crown Prince Mohammed bin Salman said the Kingdom plans NEOM to sell shares worth $266 billion in 2024, therefore turning the Saudi stock exchange into one of the largest in the world.

Speaking to reporters after unveiling the designs of The Line, the city in NEOM, the Crown Prince noted that the NEOM will add more than SR5 trillion ($1.3 bln) to the stock exchange in later stages as more parts of the project will be completed.

Saudi Arabia’s Crown Prince Mohammed bin Salman Unveils Designs of The Line in NEOM

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The Crown Prince is getting really serious about his plans to turn Saudi Arabia in to a global financial center. In his speech, he added that all companies owned by the Public Investment Fund will be listed on the stock market in the future, which will help it become one of the top three largest stock markets on the planet.