Saudi equity market listed 3 firms, 8 REITs in 2018
03/01/2019 Argaam Special
Saudi Arabia's equity market saw the listing of three new firms and eight real estate investment trusts (REITs) in 2018, data compiled by Argaam show.
The Saudi Stock Exchange (Tadawul), the mainstream market, listed Leejam Sports Co., which floated 30 percent of its capital in an initial public offering (IPO). The share sale was 245 percent oversubscribed.
National Company for Learning & Education (NCLE) was the second new market entrant. The company floated a 30.23 percent of its share capital in an IPO, which was 327 percent oversubscribed.
TASI listings in 2018
Number of shares
Retail Investors IPO
Coverage % for retail investors
Eight real estate investment trusts (REITs) went public in 2018. AlMasha'ar REIT, which was offered to the public in 2017, was listed last year.
In Nomu-Parallel Market, National Building Marketing Co. was the only new listing. The company floated 20 percent of its capital in an IPO. The offering was 100.2 percent oversubscribed.
The Capital Market Authority (CMA) approved the offering of Gulf Steel Works Co. and Al Moammar Information Systems Co. It also gave the go-ahead for floating the units of three REITs, namely Al-Markaz REIT Fund, Alawwal Al-Markaziya REIT, and Maarif REIT Fund.
The market regulator also approved the offering of Al-Babtain Holding and Saud Qahtani Auction Co. on Nomu.
Shares of all companies and REIT funds have not yet been offered to the public.