Tadawul trading screen
The Saudi market witnessed a surge in the number of initial public offerings (IPOs) and direct listings in 2021 by 24 companies.
The main market saw nine IPOs and one secondary public offering, where the Public Investment Fund (PIF) sold part of its stake in stc.
The details of the market offerings in 2021 are as follows:
|
Details of Saudi Market Offerings in 2021 |
||
|
Offering method |
Number |
|
|
IPOs in main market |
9 |
|
|
IPOs for qualified investors on Nomu |
6 |
|
|
Direct listing on Nomu |
8 |
|
|
Secondary offering |
1 |
|
|
Total |
24 |
|
Last year saw 15 public offerings with a total of 244.19 million shares and a value of SAR 19.12 billion.
Accounting for direct listings on Nomu Parallel Market, the number of new companies in the market is the highest since 2007.
|
IPOs in Saudi Market |
|||
|
Period |
Number of IPOs*** |
Number of shares (mln) |
IPO proceeds (SAR bln) |
|
2007 |
26 |
1.41* |
18.04 |
|
2008 |
13 |
2.63* |
36.39 |
|
2009 |
11 |
338.70 |
3.88 |
|
2010 |
9 |
245.35 |
3.83 |
|
2011 |
5 |
116.90 |
1.73 |
|
2012 |
7 |
257.40 |
5.32 |
|
2013 |
5 |
134.25 |
1.96 |
|
2014 |
6 |
587.50 |
25.23 |
|
2015 |
4 |
99.60 |
4.15 |
|
2016 |
3 |
55.76 |
2.79 |
|
2017** |
16 |
315.68 |
5.07 |
|
2018 |
9 |
343.55 |
4.21 |
|
2019 |
6 |
3.15* |
100.12 |
|
2020 |
3 |
102.54 |
5.25 |
|
2021 |
15 |
244.19 |
19.12 |
*bln shares
** Launching Nomu market with listing of 7 companies with an offering size of SAR 1.9 bln and 16.7 mln shares.
*** Doesn’t include direct listings.
The main market last year hosted the offerings of nine companies, of which several listings saw significant coverage by institutional and retail investors.
IPOs of six companies have been approved but are not yet been launched, including Al-Dawaa Medical Services Co. (DMSCO), Al-Elm Information Security Co., Saudi Home Loans (SHL), Nahdi Medical Co., Al Masane Al Kobra Mining Co. (AMAK) and Scientific & Medical Equipment House Co.
The following is a table outlining the IPOs that took place in 2021:
|
Main Market IPOs in 2021 |
||||||
|
Company |
Number of IPO shares (mln) |
Offering price (SAR) |
Offering size (SAR mln) |
Institutional investors coverage |
Retail investors coverage |
Funds raised for retail investors (SAR bln) |
|
ACWA Power |
81.20 |
56.00 |
4,547 |
248 x |
1,990 % |
9.05 |
|
Tadawul Group |
36.00 |
105.00 |
3,780 |
121 x |
443 % |
5.02 |
|
solutions |
24.00 |
151.00 |
3,624 |
130 x |
2,365 % |
8.6 |
|
Arabian Contracting Services |
15.00 |
100.00 |
1,500 |
126.6 x |
1,480 % |
2.2 |
|
Nayifat |
35.00 |
34.00 |
1,190 |
136 x |
2,095 % |
2.5 |
|
Almunajem Foods |
18.00 |
60.00 |
1,080 |
176 x |
1,190 % |
1.3 |
|
Alkhorayef Water |
7.50 |
72.00 |
540 |
63 x |
1,512 % |
0.82 |
|
Theeb Rent a Car |
12.90 |
40.00 |
516 |
60 x |
3,385 % |
1.75 |
|
Tanmiah Food |
6.00 |
67.00 |
402 |
95 x |
1,171 % |
0.47 |
Nomu saw six IPOs and eight direct listings in 2021.
Meanwhile, the Capital Market authority (CMA) approved the offerings of Arabian International Healthcare Holding Co., AME Company for Medical Supplies, Raoom Trade, Gaz Arabian Services, and Al-Jouf Health Water Factory; however, the IPOs haven’t taken place yet.
The authority also okayed the direct listings of Saudi Parts Center, Saudi Azm and Obeikan Glass Co.
The table below indicates IPOs and direct listings on Nomu during 2021:
|
Nomu IPOs in 2021 |
|||
|
Company |
Number of IPO shares (mln) |
Offering price (SAR) |
Offering size (SAR mln) |
|
Jahez International |
1.89 |
850.00 |
1605 |
|
Burgerizzr |
0.73 |
165.00 |
120 |
|
Group Five |
2.80 |
35.00 |
98 |
|
Al Wasail Industrial |
2.50 |
19.00 |
48 |
|
Advance International |
0.40 |
110.00 |
44 |
|
Al-Hasoob |
0.28 |
95.00 |
27 |
|
Nomu Direct Listings |
||||
|
Company |
Offering type |
Listing date |
Price Guidance (SAR) |
|
|
Enma Al Rawabi |
Direct listing |
Oct. 28 |
15.00 |
|
|
Natural Gas Distribution |
Direct listing |
Sept. 22 |
13.00 |
|
|
Banan Real Estate |
Direct listing |
Aug. 11 |
15.00 |
|
|
CMCER |
Direct listing |
Aug. 2 |
39.00 |
|
|
MOBI |
Direct listing |
July 28 |
32.00 |
|
|
Al-Naqool |
Direct listing |
June 2 |
21.00 |
|
|
Fesh Fash |
Direct listing |
May 5 |
50.00 |
|
|
Watani Steel |
Direct listing |
Feb. 17 |
37.00 |
|
By 2021-end, Saudi market capitalization rose to nearly SAR 10 trillion for the first time ever, an increase of about SAR 900 billion compared to 2020.
|
Saudi Market Capitalization |
||
|
Period |
Market capitalization (SAR bln) |
Index value (points) |
|
2001 |
274.53 |
2,430 |
|
2002 |
280.73 |
2,518 |
|
2003 |
589.93 |
4,437 |
|
2004 |
1,148.60 |
8,206 |
|
2005 |
2,438.20 |
16,713 |
|
2006 |
1,225.86 |
7,934 |
|
2007 |
1,946.35 |
11,039 |
|
2008 |
924.53 |
4,803 |
|
2009 |
1,195.51 |
6,121 |
|
2010 |
1,325.39 |
6,621 |
|
2011 |
1,270.84 |
6,418 |
|
2012 |
1,400.34 |
6,801 |
|
2013 |
1,752.86 |
8,536 |
|
2014 |
1,812.89 |
8,333 |
|
2015 |
1,579.06 |
6,912 |
|
2016 |
1,681.95 |
7,210 |
|
2017 |
1,689.60 |
7,226 |
|
2018 |
1,858.95 |
7,827 |
|
2019 |
9,025.44 |
8,389 |
|
2020 |
9,101.81 |
8,690 |
|
2021 |
9,975.04 |
11,315 |
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