‎An overview of IPOs in Saudi market in 2020, 2021

‎An overview of IPOs in Saudi market in 2020, 2021

The Saudi Exchange (Tadawul) attracted many initial public offerings (IPOs) in the last few years. In 2019, the Saudi market had the biggest share sale on record by Saudi Aramco, which raised SAR 96 billion, along with other IPOs debuting in the Main Market and Nomu-Parallel Market.

In 2020, only three listings were witnessed by Tadawul amid the COVID-19 pandemic outbreak, including Dr. Sulaiman Al Habib Medical Services Group, Amlak International for Real Estate Finance Co. and BinDawood Holding Co.

In 2021, nine companies listed their shares, namely Alkhorayef Water and Power Technologies Co., Theeb Rent a Car Co., Tanmiah Food Co., Arabian Internet and Communications Services Co. (solutions), ACWA Power, Arabian Contracting Services Co. (Al Arabia), Nayifat Finance Co., Saudi Tadawul Group Holding Co. and Almunajem Foods Co.

The IPO momentum continued this year, with seven new listings to date on Tadawul, including Elm Co., East Pipes Integrated Company for Industry, Scientific and Medical Equipment House Co. (Equipment House), Al-Dawaa Medical Services Co. (DMSCO), Nahdi Medical Co., and Al Masane Al Kobra Mining Co. (AMAK).

In a statement to Argaam, the Capital Market Authority (CMA) earlier said the year 2021 witnessed a surge in the number of IPOs that reached a record level