Saudi Stock Market Companies Touch $613 Billion in Revenues

Saudi Stock Market Companies Touch $613 Billion in Revenues

Saudi companies listed on the stock market recorded a 56.3 percent increase in their business, reaching total revenue of $613.3 billion.

Al-Jazira Capital reported that the Saudi companies on the Saudi Stock Exchange (Tadawul) recorded $613.3 billion in revenues, compared to $392 billion in 2020, while the listed Saudi companies recorded a 57.7 percent increase in total revenues during the fourth quarter of 2021.

Listed Saudi companies recorded $176 billion in revenues during the fourth quarter of last year, compared to $111.4 billion in 2020.

Saudi companies listed on Tadawul increased their revenues by nine percent during the fourth quarter of 2021 compared to their gains in the third quarter.

Meanwhile, the National Agricultural Development Co (NADEC), one of the largest dairy and food companies in the Kingdom, received a letter from the PIF-owned Saudi Agricultural and Livestock Investment (SALIC) to acquire 12.66 million shares, representing 12.46 percent of NADEC’s total outstanding shares.

SALIC looks forward to supplying larger quantities of essential foreign commodities and increasing the operational efficiency of existing investments.

The company also wants to develop relations with leading international companies in grain and food processing and expand its local and global investments following its strategy.

SALIC will include new agricultural technologies to rationalize water