Arab News, Tue, Apr 02, 2024 | Ramadan 23, 1445
Saudi Exchange marks 400th listing across all securities
Saudi Arabia:
Saudi Exchange has welcomed its 400th listing across all securities, underlining
the growing prominence of the bourse in the capital market.
As of March 27, the exchange has 216 securities
listed on the Tadawul All Share Index, with the parallel market Nomu featuring
83 listings.
Additionally, there are 71 sukuk and bonds,
followed by 19 real estate investment trusts, nine exchange-traded funds, and
two closed-end funds.
In a press statement, Tadawul highlighted that
this achievement underscores the exchange’s pivotal role in bolstering the
Kingdom’s economy, supported by strong international investor interest.
Nasser Al-Ajaji, chief of listing at Saudi
Exchange, said: “The 400th listed security on the Saudi Exchange marks a
significant milestone and is a clear testament to the Kingdom’s dynamic capital
market and its growing appeal to investors globally.”
He said that Tadawul has quickly grown to become
one of the top ten largest exchanges in the world and the largest in the Middle
East and North Africa region since its establishment 16 years ago.
Al-Ajaji added: “These achievements are more than
just a number; they are symbolic of the economic diversity and growth spurred by
Saudi Arabia’s Vision 2030, the Financial Sector Development Program, and the
support of the CMA (Capital Market Authority) to accelerate the IPO (initial
public offering) pipeline. All of this reflects the potential we are poised to
realize.”
According to the statement, Tadawul consistently
ranks in the top 10 exchanges globally for IPO proceeds.
Moreover, it accounted for over 70 percent of IPOs
in the Gulf Cooperation Council region in 2023, with 35 out of the 46 offerings
happening in the Kingdom.
Last year, Saudi Arabia’s parallel market Nomu
witnessed 27 IPOs in 2023, while TASI saw 8 deals.
“With a substantial SR11.9 billion raised through
IPOs on the main market in 2023, the Saudi Exchange has firmly established
itself as a significant contributor to the global IPO landscape, a key driver of
its continued growth in scope and scale,” said Tadawul.
It added: “In 2023, furthermore, the Tadawul All
Share Index grew by 14.2 percent, outpacing the 9.8 percent growth of the
benchmark MSCI Emerging Market Index.”