The Saudi Stock Exchange (Tadawul) will see next year three initial public offerings (IPOs), the most important of which will be in the petrochemical industries sector, while the second one will be in the industrial investment sector and the third in construction and building, well-informed sources learnt.
According to initial data collected by Asharq Alawsat, the total value of these stock offerings will amount to nearly SAR 15 billion ($4 billion), which will be close to the IPO of National Commercial Bank (NCB), which was considered the biggest ever share offering in the Kingdom in which 33 million shares were floated at SAR 45 each. NCB stock debuted on Tadawul ten days ago.
Meanwhile, the Saudi Capital Market Authority (CMA) is planning to join hands with Tadawul in attracting more successful companies to the local capital market through offering their shares to the public.
The year 2014 saw thus far the offering of seven companies marked with strong operating profits, which constituted an added value to Tadawul.
According to initial data collected by Asharq Alawsat, the total value of these stock offerings will amount to nearly SAR 15 billion ($4 billion), which will be close to the IPO of National Commercial Bank (NCB), which was considered the biggest ever share offering in the Kingdom in which 33 million shares were floated at SAR 45 each. NCB stock debuted on Tadawul ten days ago.
Meanwhile, the Saudi Capital Market Authority (CMA) is planning to join hands with Tadawul in attracting more successful companies to the local capital market through offering their shares to the public.
The year 2014 saw thus far the offering of seven companies marked with strong operating profits, which constituted an added value to Tadawul.
Source:
Mubasher
