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The Tadawul saw 22 new listings in the first half of the year, including nine listings on the main market and 13 on parallel market Nomu, according to the exchange’s 1H 2024 Listings Report (pdf). Nine IPOs on Tadawul’s main market raised SAR 8.2 bn during the period, while another SAR 1.1 bn were raised from four other offerings. 12 IPOs on the Parallel Market (Nomu) raised SAR 532.5 mn, while 1 company completed its direct listing.
On a y-o-y basis: Compared to the same period last year (pdf), Tadawul saw a 50% increase in the number of IPOs on the main market, as well as a 110% y-o-y increase in funds raised through IPOs and offerings on the main and parallel markets. The highest performing sectors during the period on the main market were pharma, biotech and life science (+74.7%), software and services (+54.5%), and capital goods (45.3%), while the worst performing sectors were diversified financials (-9.2%), utilities (-8.5%), and materials (-5.3%).
Listings on the main market during 1H included regional broadcaster MBC Group, Albilad MSCI Saudi Growth ETF, Modern Mills, Saudi Manpower Solutions Company (SMASCO), and others.
Nomu listings during the period included Pan Gulf Marketing, Al Modawat Specialized Medical Company, Qomel, Yaqeen Capital, and others.
