The launch of the indexes aims to stimulate growth in new products for investors, the Tadawul said. AFP
The launch of the indexes aims to stimulate growth in new products for investors, the Tadawul said. AFP
The launch of the indexes aims to stimulate growth in new products for investors, the Tadawul said. AFP
The launch of the indexes aims to stimulate growth in new products for investors, the Tadawul said. AFP

Saudi Arabia's Tadawul launches four equity indexes to attract investors


Sunil Singh
  • English
  • Arabic

Saudi Arabia's Tadawul stock exchange has launched four new indexes as it seeks to attract local and international investors.

They are based on company size and initial public offering performance and “provide investors with a broad range of investment benchmarks while enabling institutions to offer new products to meet growing investor strategies”, the bourse said.

The Tadawul's large, medium and small cap index – collectively called Size Indices – also reflects the Saudi market's composition, the bourse said.

Large companies listed on the Tadawul account for 70 per cent of the free float market cap, medium companies 20 per cent and small companies 10 per cent.

The new Tadawul IPO Index will track the performance of companies listed on the main market in the last five years.

The purpose is to provide investors with a benchmark to evaluate the performance of their IPOs and “a unique opportunity to invest in new and rapidly growing companies”, the Tadawul said.

Mohammed Al Rumaih, chief executive of the Saudi Exchange, said the indexes would serve as “valuable benchmarks for investment products and will allow both local and foreign investors to access and benefit from our dynamic and growing capital market”.

Similar to the current Tadawul All Share Index, the maximum weight of any index constituent will be 15 per cent, ensuring a balanced representation of the entire market, the exchange added.

Saudi Arabia, the Arab world's biggest economy, has introduced a series of measures to attract international investors as part of efforts to draw foreign investment, diversify the economy and reduce its reliance on oil.

The Tadawul, which is among the top 10 global stock markets, became the third publicly traded regional stock exchange after the Dubai Financial Market and Boursa Kuwait when it was listed in December 2021.

The kingdom and the wider GCC region have seen a flurry of IPOs amid strong investor demand as economies rebound at a quicker pace from the coronavirus pandemic-induced slowdown and liquidity has been shored up by high oil prices.

The volume of IPOs on bourses in the Mena region climbed by 44 per cent annually in the second quarter of this year amid robust economic growth, according to global consultancy EY.

Growth in Mena IPO deals was driven by Saudi Arabia and the UAE, the top regional economies, EY said in a report earlier this month.

The Saudi Exchange, the biggest by market capitalisation in the Middle East, led the volume growth, with four listings on the main market that raised $800 million and seven IPOs on its parallel Nomu market securing $100 million in total proceeds.

Jamjoom Pharmaceuticals was the biggest IPO deal in the kingdom during the second quarter, raising $336 million, followed by First Milling Company, which raised $266.4 million.

Both Saudi companies offered 30 per cent of their share capital to the public in deals that were oversubscribed, according to EY data.

Last month, Lumi, an auto rental subsidiary of Seera Group Holding, announced plans to proceed with the listing of its 30 per cent stake on the Tadawul.

In December, Saudi Aramco Base Oil Company, or Luberef, began trading on the Arab world's largest stock market after raising $1.32 billion in its IPO.

The refining unit of oil major Saudi Aramco sold more than 50 million shares, about 29.7 per cent of the company's issued share capital, with the IPO drawing strong demand from investors in the kingdom and internationally.

The biog

Hobby: Playing piano and drawing patterns

Best book: Awaken the Giant Within by Tony Robbins

Food of choice: Sushi  

Favourite colour: Orange

House-hunting

Top 10 locations for inquiries from US house hunters, according to Rightmove

  1. Edinburgh, Scotland 
  2. Westminster, London 
  3. Camden, London 
  4. Glasgow, Scotland 
  5. Islington, London 
  6. Kensington and Chelsea, London 
  7. Highlands, Scotland 
  8. Argyll and Bute, Scotland 
  9. Fife, Scotland 
  10. Tower Hamlets, London 

 

MATCH INFO

Real Madrid 2 (Benzema 13', Kroos 28')
Barcelona 1 (Mingueza 60')

Red card: Casemiro (Real Madrid)

The schedule

December 5 - 23: Shooting competition, Al Dhafra Shooting Club

December 9 - 24: Handicrafts competition, from 4pm until 10pm, Heritage Souq

December 11 - 20: Dates competition, from 4pm

December 12 - 20: Sour milk competition

December 13: Falcon beauty competition

December 14 and 20: Saluki races

December 15: Arabian horse races, from 4pm

December 16 - 19: Falconry competition

December 18: Camel milk competition, from 7.30 - 9.30 am

December 20 and 21: Sheep beauty competition, from 10am

December 22: The best herd of 30 camels

Benefits of first-time home buyers' scheme
  • Priority access to new homes from participating developers
  • Discounts on sales price of off-plan units
  • Flexible payment plans from developers
  • Mortgages with better interest rates, faster approval times and reduced fees
  • DLD registration fee can be paid through banks or credit cards at zero interest rates
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COMPANY%20PROFILE
%3Cp%3E%3Cstrong%3EName%3A%3C%2Fstrong%3E%20PlanRadar%3Cbr%3E%3Cstrong%3EStarted%3A%20%3C%2Fstrong%3E2013%3Cbr%3E%3Cstrong%3ECo-founders%3A%20%3C%2Fstrong%3EIbrahim%20Imam%2C%20Sander%20van%20de%20Rijdt%2C%20Constantin%20K%C3%B6ck%2C%20Clemens%20Hammerl%2C%20Domagoj%20Dolinsek%3Cbr%3E%3Cstrong%3EBased%3A%20%3C%2Fstrong%3EVienna%2C%20Austria%3Cbr%3E%3Cstrong%3ESector%3A%20%3C%2Fstrong%3EConstruction%20and%20real%20estate%3Cbr%3E%3Cstrong%3ECurrent%20number%20of%20staff%3A%20%3C%2Fstrong%3E400%2B%3Cbr%3E%3Cstrong%3EInvestment%20stage%3A%20%3C%2Fstrong%3ESeries%20B%3Cbr%3E%3Cstrong%3EInvestors%3A%3C%2Fstrong%3E%20Headline%2C%20Berliner%20Volksbank%20Ventures%2C%20aws%20Gr%C3%BCnderfonds%2C%20Cavalry%20Ventures%2C%20Proptech1%2C%20Russmedia%2C%20GR%20Capital%3C%2Fp%3E%0A
Key facilities
  • Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
  • Premier League-standard football pitch
  • 400m Olympic running track
  • NBA-spec basketball court with auditorium
  • 600-seat auditorium
  • Spaces for historical and cultural exploration
  • An elevated football field that doubles as a helipad
  • Specialist robotics and science laboratories
  • AR and VR-enabled learning centres
  • Disruption Lab and Research Centre for developing entrepreneurial skills
UAE currency: the story behind the money in your pockets
Results

Final: Iran beat Spain 6-3.

Play-off 3rd: UAE beat Russia 2-1 (in extra time).

Play-off 5th: Japan beat Egypt 7-2.

Play-off 7th: Italy beat Mexico 3-2.

The Bio

Hometown: Bogota, Colombia
Favourite place to relax in UAE: the desert around Al Mleiha in Sharjah or the eastern mangroves in Abu Dhabi
The one book everyone should read: 100 Years of Solitude by Gabriel Garcia Marquez. It will make your mind fly
Favourite documentary: Chasing Coral by Jeff Orlowski. It's a good reality check about one of the most valued ecosystems for humanity

Western Region Asia Cup T20 Qualifier

Sun Feb 23 – Thu Feb 27, Al Amerat, Oman

The two finalists advance to the Asia qualifier in Malaysia in August

 

Group A

Bahrain, Maldives, Oman, Qatar

 

Group B

UAE, Iran, Kuwait, Saudi Arabia

Specs

Engine: Dual-motor all-wheel-drive electric

Range: Up to 610km

Power: 905hp

Torque: 985Nm

Price: From Dh439,000

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Overall head-to-head

Federer 6-1 Cilic

Head-to-head at Wimbledon

Federer 1-0 Cilic

Grand Slams titles

Federer 18-1 Cilic

Best Wimbledon performance

Federer: Winner (2003, 2004, 2005, 2006, 2007, 2009, 2012)
Cilic: Final (2017*)

UAE currency: the story behind the money in your pockets
Jetour T1 specs

Engine: 2-litre turbocharged

Power: 254hp

Torque: 390Nm

Price: From Dh126,000

Available: Now

The specs

Engine: 1.5-litre turbo

Power: 181hp

Torque: 230Nm

Transmission: 6-speed automatic

Starting price: Dh79,000

On sale: Now

Results:

6.30pm: Handicap (Turf) | US$175,000 2,410m | Winner: Bin Battuta, Christophe Soumillon (jockey), Saeed bin Suroor (trainer)

7.05pm: UAE 1000 Guineas Trial Conditions (Dirt) | $100,000 1,400m | Winner: Al Hayette, Fabrice Veron, Ismail Mohammed

7.40pm: Handicap (T) $145,000 1,000m | Winner: Faatinah, Jim Crowley, David Hayes

8.15pm: Dubawi Stakes Group 3 (D) $200,000 1,200m | Winner: Raven’s Corner, Richard Mullen, Satish Seemar

8.50pm: Singspiel Stakes Group 3 (T) $200,000 1,800m | Winner: Dream Castle, Christophe Soumillon, Saeed bin Suroor

9.25pm: Handicap (T) $175,000 1,400m​​​ | Winner: Another Batt, Connor Beasley, George Scott

Global state-owned investor ranking by size

1.

United States

2.

China

3.

UAE

4.

Japan

5

Norway

6.

Canada

7.

Singapore

8.

Australia

9.

Saudi Arabia

10.

South Korea

Updated: June 07, 2024, 10:21 AM`