Tadawul likely to see 19 new listings by Q1 2022: Al-Rumaih

At least 19 companies are expected to launch initial public offerings (IPOs) on the Saudi Exchange (Tadawul) by end of Q1 2022, said Tadawul’s CEO Mohammed Al-Rumaih.

A total of 16 firms have been listed so far, while three listing applications are still pending approvals, he told the Saudi Capital Market Forum (SCMF) 2022 today, March 22.

More than 70 share listing requests from companies operating in different business fields are being reviewed, said Al-Rumaih, adding that each share listing noticeably attracts new local or foreign retail and institutional investors.

Tadawul currently focuses on providing the listed companies with new debt instruments, in addition to expanding client options to offer a variety of risks and returns.

Tadawul is proceeding as scheduled, Al-Rumaih added, expressing optimism about fulfilling the market plans during 2022.

This year, Tadawul witnessed five IPOs, including Elm Co., East Pipes Integrated Company for Industry, Scientific and Medical Equipment House Co., Al-Dawaa Medical Services Co. and Nahdi Medical Co.

As many as 11 companies were also listed on the Nomu-Parallel Market, including AME Company for Medical Supplies, Raoom Trading Co., Gas Arabian Services Co., Saudi Azm, Obeikan Glass Co. and Al-Jouf Health Water Factory Company.