Tadawul trading screen
The Saudi Exchange (Tadawul) witnessed a positive momentum in initial public offerings (IPOs) and listings during 2022, as a total of 49 companies and funds were listed.
During the past year, the main market documented 17 IPOs, including the first dual offering – on Tadawul and Abu Dhabi Securities Exchange (ADX).
The companies on Tadawul All Share Index (TASI) showed a mixed performance in 2022, as 10 recorded an increase compared to the IPO price, while the remaining seven retreated.
Elm Co. was the top gainer, rising nearly 139%, or SAR 204, to close at SAR 332 by 2022-end, compared to the IPO price of SAR 128 on Feb. 16. It was followed by Nahdi Medical Co. with an increase of 28%, and Alamar Foods Co. with 21%.
On the other hand, East Pipes Integrated Company for Industry saw the steepest decline, by about 53% to SAR 37.30 by end of 2022, compared to IPO price of SAR 80 on Feb. 14. It was followed by Al-Saif Stores for Development and Investment Co. (Alsaif Gallery) with a decrease of 21%, and Riyadh Cables Group Co. by 16%.
Four companies had opening price lower than their IPO price: East Pipes opened at SAR 60 while its IPO price was set at SAR 80, Riyadh Cables opened at SAR 41 against IPO price of SAR 43, Alsaif Gallery opened at SAR 108.20 versus IPO price of SAR 115, and Saudi Aramco Base Oil Co. (Luberef) opened at SAR 94 on Dec. 28 but its IPO price was set at SAR 99.
|
Performance of new companies on TASI in 2022 (SAR) |
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|
Company |
Listing Date |
Listing Price |
Opening Price |
Highest Price |
Lowest Price |
Closing Dec. 31 |
Change* |
|
Elm |
Feb. 16 |
128.00 |
140.80 |
366.00 |
140.80 |
332.00 |
+159% |
|
Nahdi |
March 22 |
131.00 |
144.00 |
209.40 |
140.00 |
167.20 |
+27% |
|
Alamar |
Aug. 9 |
115.00 |
126.00 |
154.40 |
115.20 |
138.80 |
+21% |
|
Equipment House |
Feb. 28 |
52.00 |
61.20 |
96.10 |
58.30 |
61.10 |
+17% |
|
AMAK |
March 29 |
63.00 |
69.30 |
119.80 |
69.30 |
71.90 |
+14% |
|
Americana |
Dec. 12 |
2.68 |
2.75 |
3.27 |
2.63 |
3.05 |
+14% |
|
Arabian Drilling |
Nov. 7 |
100.00 |
110.00 |
131.40 |
100.00 |
112.60 |
+13% |
|
Retal |
June 27 |
120.00 |
129.80 |
147.60 |
112.60 |
123.60 |
+3% |
|
SHL |
April 20 |
20.00 |
22.00 |
29.00 |
19.20 |
20.48 |
+2% |
|
Marafiq |
Nov. 24 |
46.00 |
50.60 |
52.40 |
44.25 |
46.90 |
+2% |
|
Aldawaa |
March 14 |
73.00 |
80.30 |
86.10 |
63.00 |
71.90 |
(2%) |
|
Naqi Water |
Aug. 15 |
69.00 |
75.90 |
89.70 |
62.00 |
65.70 |
(5%) |
|
2P |
Nov. 16 |
185.00 |
203.40 |
222.00 |
137.80 |
175.20 |
(5%) |
|
Riyadh Cables |
Dec. 19 |
43.00 |
41.00 |
43.00 |
35.60 |
36.25 |
(16%) |
|
Alsaif Gallery |
Dec. 27 |
115.00 |
108.20 |
113.00 |
89.80 |
90.50 |
(21%) |
|
Luberef |
Dec. 28 |
99.00 |
94.00 |
98.70 |
92.50 |
93.00 |
(6%) |
|
East Pipes |
Feb. 14 |
80.00 |
58.65 |
62.85 |
36.50 |
37.30 |
(54%) |
*IPO price to year-end closing price.
On Nomu-Parallel Market, qualified investors subscribe to 18 companies and there were 13 direct listing, in addition to Al Waha REIT Fund offering.
Shares of 17 companies and units of Al Waha REIT closed 2022 higher, compared to their subscription prices. Shares of 14 companies declined.
KEIR International Co. (direct listing) topped Nomu’s list rising nearly 259%, or SAR 88, to close at SAR 122 by 2022-end, compared to subscription price of SAR 34 on July 17.
Arabian International Healthcare Holding Co. (Tibbiyah) was the biggest loser, slumping nearly 55% to SAR 37 by end of 2022, compared to its offer price of SAR 82 on March 3.
|
Performance of newly listed-companies on Nomu in 2022 (SAR) |
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|
Company |
Listing Date |
Listing Price |
Opening Price |
Highest Price |
Lowest Price |
Closing Dec. 31 |
Change* |
|
IPOs |
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|
IHR |
Aug. 22 |
34.00 |
44.20 |
83.80 |
44.20 |
56.10 |
+65% |
|
Amwaj International |
June 16 |
72.00 |
79.20 |
109.00 |
63.50 |
108.00 |
+50% |
|
Knowledge Tower |
Nov. 17 |
40.00 |
52.00 |
70.00 |
52.00 |
59.90 |
+50% |
|
Raoom |
Feb. 21 |
80.00 |
70.35 |
162.60 |
70.35 |
113.00 |
+41% |
|
Molan |
Dec. 20 |
24.00 |
26.40 |
38.40 |
26.40 |
32.00 |
+33% |
|
FADECO |
June 12 |
71.00 |
92.30 |
189.00 |
91.00 |
91.00 |
+28% |
|
Al-Jouf Mineral Water |
March 2 |
35.00 |
38.50 |
109.60 |
37.70 |
39.00 |
+11% |
|
Alwaha REIT |
Nov. 30 |
10.00 |
10.96 |
13.12 |
9.70 |
10.58 |
+6% |
|
APICO |
Oct. 5 |
27.00 |
32.00 |
36.05 |
23.80 |
28.30 |
+5% |
|
Alwasail |
Nov. 18 |
19.00 |
24.70 |
47.00 |
16.60 |
18.30 |
(4%) |
|
Ladun |
June 14 |
18.00 |
18.30 |
18.50 |
12.12 |
15.90 |
(12%) |
|
Saudi Top Trading |
Dec. 22 |
133.00 |
132.40 |
135.00 |
108.60 |
113.00 |
(15%) |
|
Jahez |
Jan. 5 |
850.00 |
935.00 |
1444.00 |
525.00 |
699.00 |
(18%) |
|
Naba Alsaha |
Sept. 7 |
57.00 |
56.70 |
59.90 |
43.00 |
43.00 |
(25%) |
|
Saudi Networkers |
Aug. 17 |
71.00 |
66.20 |
73.00 |
49.00 |
50.00 |
(30%) |
|
GAS |
Feb. 7 |
90.00 |
117.00 |
117.00 |
56.90 |
58.90 |
(35%) |
|
Al Babtain Food |
Oct. 18 |
77.00 |
78.90 |
78.90 |
47.80 |
50.00 |
(35%) |
|
AICTEC |
Jan. 6 |
110.00 |
96.76 |
223.91 |
54.80 |
61.00 |
(45%) |
|
Tibbiyah |
March 3 |
82.00 |
90.20 |
99.00 |
34.00 |
37.10 |
(55%) |
|
Direct Listing |
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|
Keir International |
July 17 |
34.00 |
44.20 |
148.00 |
44.20 |
122.00 |
+258% |
|
Future Care |
Aug. 1 |
90.00 |
99.00 |
328.00 |
95.00 |
234.00 |
+160% |
|
Saudi Azm |
March 1 |
70.00 |
91.00 |
267.00 |
91.00 |
172.00 |
+146% |
|
Rawasi Albina |
Aug. 18 |
40.00 |
48.00 |
96.90 |
48.00 |
62.40 |
+56% |
|
Saudi Parts Center |
Feb. 21 |
49.00 |
53.90 |
235.80 |
53.90 |
68.40 |
+40% |
|
Obeikan Glass |
Feb. 7 |
68.00 |
88.40 |
118.20 |
77.30 |
88.60 |
+30% |
|
Naseej Tech |
May 24 |
70.00 |
77.00 |
153.60 |
59.00 |
75.00 |
+7% |
|
Aqaseem |
May 25 |
48.00 |
58.00 |
136.40 |
49.50 |
50.00 |
+4% |
|
Academy of Learning |
July 18 |
40.00 |
48.40 |
67.60 |
37.50 |
41.10 |
+3% |
|
Tadweeer |
May 26 |
65.00 |
71.50 |
109.80 |
48.00 |
58.00 |
(11%) |
|
Edarat |
Dec. 26 |
0300.00 |
300.00 |
409.00 |
230.00 |
240.40 |
(20%) |
|
AME |
Jan. 18 |
50.00 |
65.00 |
89.00 |
33.05 |
34.90 |
(30%) |
|
Sure Global |
Oct. 24 |
70.00 |
70.00 |
80.00 |
40.80 |
41.00 |
(41%) |
* IPO price to year-end closing price.
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