Last year, Saudi Exchange was the biggest market in the Middle East and Europe for initial public offerings. Whereas in the past it would expect to host about five IPOs a year, in 2022 it launched over 50 new listings and that impressive momentum has shown no sign of slowing down in 2023.
"This demonstrates the vibrancy of our economy and the significant level of interest, not only from companies seeking to be listed, but also from local and international investors wanting to share in the success of Saudi Arabia's economic growth journey," says Mohammed Sulaiman Al-Rumaih, CEO of Saudi Exchange, which is now one of the world's 10 largest stock exchanges in terms of its market capitalization that stood at almost $3 trillion in June.
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