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Saudi Arabia’s stocks have jumped by over 5% to record their biggest rise in 5 years after reports on removing the 49% cap on foreign ownership of listed firms.
Saudi Arabia’s well known perfume maker, Al Majed For Oud, had its IPO sold out within hours, with more orders received than shares available.
Rasan, the Saudi fintech company that operates the highly popular online Insurance Aggregator Tameeni, has listed on the Saudi Tadawul Stock Exchange.
Saudi Arabia’s Tadawul stock exchange has unveiled a new index that tracks the top 50 companies ranked by market value.
Saudi Arabia’s Public Investment Fund has acquired a 23.08% stake in the Middle East Paper Company known as MEPCO.
The Saudi Arabian fintech company Tamara has risen to unicorn status, making it the Kingdom’s first-ever start-up company valued at $1 Billion.
The well known Saudi Arabian Speciality Coffee Shop Barn’s is planning to launch an IPO next year with the aim of reaching 1,000 stores globally and expanding into new markets including the UK and USA. The IPO would provide an opportunity for loyal customers of Barn’s to become investors in the company.
Tabby, the buy now, pay later platform has reached a unicorn valuation of $1.5 billion joining an elite club of billion-dollar startups from the Middle East and North Africa. The company plans to list on the Saudi Tadawul stock exchange after announcing plans to move its Headquarters to Riyadh.
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