A total of 25 leading Saudi companies attended a conference held by Middle East Investor Relations Society (ME-IR) and Merrill Lynch Saudi Arabia in Riyadh this week.

The conference focused on greater dialogue with Tadawul listed companies on the importance of IR to developing Saudi’s capital markets.

The event which was held at the Four Seasons Hotel focused on combined theory, practical application, and the exchange of ideas for raising professional and industry standards, the company said in a statement.

Philip Southwell, president and country executive, Mena, Bank of America Merrill Lynch, commented: “The conference aimed to galvanise greater understanding in the IR field and encourage greater acceptance and implementation of investor relations as a key business discipline."

During the day, senior representatives of Merrill Lynch and board members of the ME-IR Society discussed practical and strategic challenges of operating dedicated IR departments and presented tools and solutions for effective investor relations.

The audience participated actively, raising thought provoking questions and positive feedback during the presentations on ‘IR from a Middle Eastern Context’ and ‘International Best Practices of IR.’

Speaker Ben Franz Marwick, head of IR at Emirates NBD, Dubai, said: “Practicing investor relations activities on an ongoing basis is absolutely essential in all markets. Companies need to actively engage with investors, analysts and the media to translate a better business understanding and ensure fair valuation and increased diversity of their capital.”

Nader Nuwayhid, head of investor relations at Mobily, Saudi, added: “Competition for capital is growing and becoming more global in nature. Sophisticated investors drive the demand for more information, and a well-informed market values stock closer to the value of the business.” – TradeArabia News Service