Formally established in 2007 after the devastating market crash of 2006 and incorporated as a holding company in 2021, the Saudi stock market (Tadawul) recently hit a milestone of 400 listed securities.
Speaking on the occasion, Nasser Al Ajaji, Chief of Listing, noted, “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. In only 16 years, the Saudi Exchange has grown rapidly to rank among the top ten stock exchanges in the world. 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 to accelerate the IPO pipeline. All of this reflects the potential we are poised to realize.”
Established in 2007 following the Saudi market crash of 2006 the Tadāwul became the sole entity authorized to act as a securities exchange in the kingdom and is responsible for listing and trading securities, as well as deposit, transfer, clearing, settlement, and registry of ownership of securities traded on the exchange.
With a market capitalization of $2.91 trillion as of March 2024 the Saudi stock market is now the 9th largest in the world, third largest among emerging market peers, and the largest exchange in the MENA region.
The Average Daily Value Traded in March 2024 was $2.46 billion and the total holdings of Qualified Foreign Investors was $88.78 billion.
It also consistently ranks in the top ten exchanges globally for IPO proceeds and accounted for over 70% of GCC IPOs in 2023. Also in 2023, $3.2 billion was raised through IPOs on the Main Market and the Tadawul All Share Index grew by 14.2%, outpacing the 9.8% growth of the benchmark MSCI Emerging Market Index.
As of March 2024, the Saudi Exchange has 216 securities listed on the Main Market, 83 on the Nomu – Parallel Market, 71 Sukuk & Bonds, 19 REITs, 9 ETFs and 2 CEFs.
