Riyadh – Mubasher: The Saudi Stock Exchange (Tadawul) could see the listing of three new companies during the first half (H1) of 2020, two of which could be in the first quarter (Q1) of the year, Reuters reported.
This comes after successfully listing the shares of Saudi Aramco, following the world’s largest initial public offering (IPO).
Sulaiman Al Habib Medical Group is said to have delayed its plans to launch a SAR 1.8 billion IPO, until the completion of Aramco’s. However, the company could launch its IPO in the coming hours, sources reportedly Reuters.
Bindawood Group could be raising around SAR 1.5 billion through an IPO expected before the end of March.
Furthermore, Supreme Foods plans its offering for Q2-20, expecting to raise SAR 300-400 million.
Last December, Tadawul launched the trading of Saudi Aramco after an IPO worth more than SAR 100 billion ($29.4 billion), by far the largest in the history of the Saudi market and the world to date, surpassing Alibaba’s $21-25 billion listing on Wall Street.
Aramco began trading on Tadawul on 11 December and in a matter of minutes, the Saudi oil giant reached a market capitalization of around $1.88 trillion, beating Apple’s $1.19 trillion value to become the world’s biggest listed company.
It is worth noting that Saudi Arabia plans to list Tadawul itself, with procedures previously expected to be completed by the end of 2020.
