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IPO Monitor | Upcoming IPOs Plans on TASI in 2025: Key Companies to Watch (updated details of Riyad Capital)
Tadawul All Shares Index +0.35%
Tadawul All Shares Index TASI.SA | 10450.27 | +0.35% |
Several companies are set to list their shares on the Saudi Exchange (Tadawul) in 2025, with approval already granted for five firms by the Capital Market Authority (CMA). Additionally, there are several companies that have announced plans to go public, though they are awaiting CMA approval.
1. Companies Approved for IPOs in 2025
The following companies have received CMA approval to launch their initial public offerings in 2025:
| Company | Sector | Offering Percentage | Shares Offered (million) | Approval Date |
|---|---|---|---|---|
| Arabian Agricultural Investments | Capital Goods | 30% | 9 | Sept. 30 2024 |
| United Carton Industries Co. | Basic Materials | 30% | 12 | Dec. 16 2024 |
| Ejada Systems Co. | Technology Applications & Services | 45% | 20.25 | Dec. 23 2024 |
| Umm Al Qura for Development & Construction | Real Estate Management & Development | 9.09% | 130.79 | Dec. 23 2024 |
| Derayah Financial Co. | Financial Services | 20% | 49.95 | Dec. 25 2024 |
2. Companies with Announced IPO Plans (Awaiting CMA Approval)
In addition to those already approved, several companies have announced their intentions to go public in the coming years. These firms are currently in various stages of preparation for their IPOs:
| Company | Sector | Announcement Date | Ownership/Additional Notes |
|---|---|---|---|
| Saudi Tabreed District Cooling Co. | Utilities | Jan. 09, 2025 | 30% owned by PIF |
| Almunif Pipes Co. | Materials | Jan. 09, 2025 | Founded in 1987, majority-owned by Almunif Holding |
| Saudi Global Ports | Transportation | Dec. 16, 2024 | 51% owned by PIF, PSA International, Al Blagha Holding |
| Gulf Real Estate | Real Estate Management & Development | Nov. 15, 2024 | Major shareholder in Mulkia REIT (21.85%), 36.84% owned by GIH |
| Hashi Basha | Consumer Services | Nov. 13, 2024 | - |
| SAMACO Motors | Basic Materials | Nov. 12, 2024 | - |
| Built Industrial | Real Estate Management & Development | Oct. 30, 2024 | Wholly owned by Ladun Investment |
| Abeer Medical Group | Healthcare | Oct. 22, 2024 | Plans to go public within 5 years |
| Almatar Group | Consumer Services | Sept. 29, 2024 | - |
| Tabby | Financial Services | Sept. 4, 2024 | - |
| Webook | Business & Professional Services | Aug. 30, 2024 | - |
| Al Bawani | Real Estate Management & Development | Aug. 1, 2024 | 33.41% owned by PIF |
| NUPCO | Healthcare | July 15, 2024 | Wholly owned by PIF |
| Almosafer | Transportation | May 20, 2024 | Wholly owned by Seera |
| Addoha Poultry | Food Production | May 16, 2024 | - |
| GFH Financial Group | Financial Services | May 16, 2024 | Listed on Bahrain, Dubai, Abu Dhabi, Kuwait exchanges |
| Foodics | Consumer Services | May 13, 2024 | - |
| Riyadh Dynamics | Technology Applications & Services | May 9, 2024 | Plans to go public between 2027 and 2028 |
| Malahi Saudi | Consumer Services | May 8, 2024 | - |
| Tamweel Aloula | Financial Services | May 6, 2024 | - |
| SIRC | Business & Professional Services | May 6, 2024 | Owned by PIF |
| SAIL | Business & Professional Services | May 6, 2024 | A subsidiary of SIRC, which is owned by PIF |
| Riyad Capital | Financial Services | April 4, 2024 | Wholly owned by Riyad Bank; offering may occur by mid-2025, valued at around SAR 9.4 Billion |
| Azad Real Estate | Real Estate Management & Development | Feb. 25, 2024 | Plans to go public in 2027 |
| Panda Retail | Consumer Services | Feb. 20, 2024 | Wholly owned by Savola Group |
| Darco | Real Estate Management & Development | Feb. 19, 2024 | CMA request slated by 2025-end |
| Mutlaq Al-Ghowairi | Real Estate Management & Development | Feb. 5, 2024 | Financial advisor and underwriter appointed |
| Flynas | Transportation | Jan. 16, 2024 | 37.1% owned by Kingdom Holding |
