TASI listings longest hiatus in three years

The Saudi Main Stock Market experienced its longest hiatus from initial public offerings (IPOs) in over three years, lasting 116 days without any new listings. Investor appetite waned, and the Tadawul (TASI) index performed poorly during this period, with most new stocks trading below their offering prices and some IPOs failing to cover the retail portion or being canceled after companies failed to advance. The last offering was for Dar Al Balad in April 2026, and since then, the TASI index has declined by 1%, reaching 11,012 points so far. In 2025, the market saw a significant drop in IPO proceeds, down nearly 99%, amounting to 137 million SAR compared to 12.4 billion SAR in the first eight months of the previous year. Current measures include approval by the Capital Market Authority to potentially cancel the listings of three companies if they do not complete their IPO procedures within six months. Additionally, retail participation in IPOs continues to decline, with shares of newly listed companies reaching their lowest levels in five years, their valuations plummeting, and prices falling sharply compared to their initial offering prices.

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