The 2024 Saudi Capital Market Awards (SCMA) — organized by Saudi Tadawul Group in concert with the CFA Society Saudi Arabia and the Middle East Investor Relations Association (Meira) — saw Rasan, EFG Hermes, SNB Capital and others celebrated for achievements and best practices in Saudi’s capital market. The awards were unveiled on the first day of the Capital Markets Forum.

Rasan’s SAR 841 mnTadawuldebut crowned IPO of the Year: Fintech startup Rasan Information Technology took home the award for the best IPO on Tadawul’s main market in 2024 at the , according to a press release. Meanwhile, First Avenue’s SAR 98.5 mn IPO was named the year’s best on the parallel market Nomu.

Our friends at EFG Hermes also snagged the Research House of the Year award, distinguishing the firm for “their insights and exceptional analysis that supported informed market decision-making,” according to a post on X. Our friends HSBC Saudi Arabia also received the Debt Capital Markets House of the Year award.

MEANWHILE- SNB Capital racked up four awards, including the Merger and Acquisition of the Year, Most Active Derivatives Broker of the Year, Direct Clearing Member of the Year, and the Investment Bank of the Year.

Also on the list: while Jadwa Investment was named Asset Manager of the Year, and Derayah Financial was named Broker of the Year. Meanwhile, BSF Capital was recognized as the Equity Capital Markets House of the Year, while also taking home the award for the Private Placement of the Year.

Other highlights:

  • General Clearing Member of the Year went to Saudi Awwal Bank (SAB);
  • Direct Listing of the Year on Nomu went to Miral Dental Clinics;
  • Custodian of the Year went to Riyad Capital;
  • Saudi Aramco snagged Sultan AlDugaither Award for the Best Investor Relations Program of the Year in the Large-Cap category;
  • Luberef was names the Best Investor Relations Program of the Year in the Mid-Cap category;
  • First Mills was named the Best Investor Relations Program of the Year in the Small-Cap category (under SAR 3.75 bn).

OVER TO KAFD- King Abdullah Financial District Development and Management Company (Kafd DMC) earned three new LEED certifications from the US Green Building Council, according to a press release. The awards were given for Building Design and Construction at its fire station, Interior Design and Construction at its HQ, and Operations and Maintenance at the PIF Tower.

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