22/02/2016
His Excellency the chairman of the Council of the Capital Market Authority Mohammed bin Abdullah Al Jadaan, sponsors in March 2016 the "Forum of turning family business into a joint stock companies" which is organized by the East Chamber in cooperation with the Saudi Stock Exchange companies (Tadawul) looking through a number of topics regarding family status and future of thecompanies, underer the growing need for them to be converted into joint stock companies, doing the utter best to keep them and their achievements.
Explained the chairman of the Council of East Chamber Abdulrahman bin Saleh Al ataishan, who added that the forum aims to review the role of turning companies from a family to contribute to maintaining the continuity and sustainability of their success and their growth and development, and the role of this shift in granting the companies the necessary ability in the face of current economic challenges.
According to this, Al ataishan said that the discussions forum in which the number of specialists and academics involved will be discussing several subjects, most notably how to shift from a family company to a public shareholding, governance and family businesses, in addition , the display of some of the experiences of family companies in the transition to joint-stock enterprises, and the most important steps they have taken in this aspect and the main benefits of this transformation.
Al ataishan pointed that the organization of the forum comes out of the chamber and Saudi Stock Exchange (Tadawul) interest in family businesses sector and highlighting the most important practices in the transition to a contribution, to convey a clear message to companies wishing to switch to save their business from collapse and to help them develop and expand in the future.
Al ataishan paid the attention that the importance of the forum lies in dealing with a vital issue at the local scale since the family companies in the Kingdom occupies a large extent of the national economy, they are an important channel to attract local and foreign investments, and to attract, national workforce in particular, which enhances its position in the national economy.
