In a move reflecting its commitment to enhancing transparency and protecting the rights of its shareholders, the Saudi Public Transport Company (SAPTCO) announced the launch of a new and innovative electronic service that allows shareholders to easily inquire about any unclaimed profits from previous years, in addition to inquiring about share certificates that have not been deposited into investment portfolios.
According to the official statement published by the company on the Saudi Stock Exchange (Tadawul) website, this initiative is part of SAPTCO's ongoing efforts to facilitate shareholders' access to their financial entitlements and rights, and is in line with the Kingdom's digital transformation. Shareholders can now access the service through the company's official website, where inquiries require only simple information such as their name or national ID number, enabling the system to verify any outstanding dues.
Historical context and SAPTCO's role in the Saudi economy
The Saudi Public Transport Company (SAPTCO) was established by royal decree in 1979 and has since played a pivotal role in the Kingdom of Saudi Arabia's public transport sector. As a publicly listed company, SAPTCO boasts a broad shareholder base that has contributed to its growth over the decades. Over time, however, some shareholders may not receive their dividends or update their information to deposit their share certificates into modern investment portfolios, creating an administrative and financial challenge. This new service offers an effective solution to this long-standing issue, leveraging technology to bridge the gap between the company and its shareholders.
The importance of the initiative and its expected impact
Domestically, this service is of paramount importance in bolstering investor confidence in SAPTCO and the Saudi financial market in general. It not only ensures that investors receive their financial entitlements but also reflects a high level of corporate governance and transparency. This step aligns directly with the goals of Saudi Vision 2030, which aims to build a thriving digital economy and improve the investment environment by streamlining and enhancing the efficiency of procedures.
Regionally and internationally, such initiatives contribute to enhancing the attractiveness of the Saudi market to foreign investors, demonstrating the commitment of listed companies to implementing the highest global standards in investor relations. Providing user-friendly digital tools for managing financial rights gives a positive impression of the market's maturity and its ability to keep pace with global technological advancements, thus reinforcing Tadawul's position as one of the most important financial markets in the region.
