TASI IPOs Face 8-Year Drought

The main Saudi stock market experienced its longest period without IPOs in more than three years, with a total of 161 days without any primary offerings. During this time, the Tadawul Index fell to its lowest levels, and some IPOs failed to cover retail investor quotas or were canceled altogether. This slowdown occurred amid weak investor appetite and a declining market. Since the last offering by Dar Al-Balad in April, no new shares have been issued, and the Tadawul Index has decreased by 1%, reaching 11,012 points. In response, the Capital Market Authority is implementing reforms to improve regulations, such as enhancing the mechanisms for offering and pricing, increasing transparency of information, with the aim of restoring confidence and attracting more IPOs. Despite a nearly 96% drop in proceeds from offerings and the suspension of three deals, the authority is working to revive market activity and encourage investor participation by improving data quality and ensuring parties adhere to deadlines.

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