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No. of Initial Public Offerings (IPOs)

Source: AGR Analysis

Saudi Arabia is experiencing a notable surge in Initial Public Offerings (IPOs) driven by the ambitious Vision 2030, aimed at diversifying the economy away from oil dependency and fostering growth in non-oil sectors. This momentum is exhibited by a 70% increase in overall IPO listings from 2018 to 2023. Particularly, the NOMU parallel market has witnessed a doubling in the number of listings since 2018, attributing the listing requirements and the opportunity to transition to the Main market after obtaining regulatory approvals.

Tadawul, the Saudi Exchange, has undergone significant transformation, evolving from a localized market with limited opportunities to the 10th largest exchange globally, boasting a total market capitalization of SAR 11,259.3 billion (USD 3,002.5 billion) by December 2023. This growth reflects both increasing investor confidence in Saudi Arabia’s economic prospects and the country’s greater integration into the global financial landscape. As IPO activity continues and Tadawul maintains its growth trajectory, it is poised to play a pivotal role in driving Saudi Arabia’s economic diversification and prosperity as envisioned by Vision 2030.

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