Market value of Saudi Arabia’s Tadawul reached $3.19 trillion by end of Q1 of 2022

The market capitalization of Saudi Arabia’s Tadawul All Share Index (TASI) at the end of Q1 of 2022 has reached $3.19 trillion, increasing by 24.21% over the same period of the previous year.

The total value of shares traded during the same period stood at $144.75 billion, decreasing by 22.15% over the same period of the previous year. The TASI closed at 13,090.40 points, increased by 3,182.58 points 32.12% at the end of Q1 of 2022 compared with the same period during previous year.

In a statement on Sunday, TASI said the highest close level for the index during period was 13,101.36 point on 29 March 2022.

Total equity market capitalization at the end of the Q1 of 2022 reached $3.19 trillion, increasing by 24.21% over the same period of the previous year. The total value of shares traded during the same period stood at $144.75 billion, decreasing by 22.15% over the same period of the previous year.

The total number of shares traded reached 12.87 billion during Q1 of 2022 compared with 21.81 billion shares traded during the 1st Quarter of 2021, registering a decrease of 40.98%.

The total number of transactions executed during the Q1 of 2022 reached 23.64 million compared to 27.59 million trades during Q1 of 2021, a decrease of 14.33%.

Even the number of trading days during the first three months of 2022 were 64 as 64 trading days during the same period last year.

IPOs Main Reason

The increase in the market value can be attributed to the 15 of the 20 Initial Public Offerings (IPOs) that took place in TASI as well as its parallel market Nomu during the year, Kuwait-based Kamco Invest said in a report.

Saudi Arabia also accounted for about 62% of the value of the region’s offerings, at about $4.65 billion. Energy company Acwa Power’s IPO last year, which raised $1.2 billion, was the kingdom’s largest listing since state-owned oil company Saudi Aramco went public in 2019.

The market value of the Saudi bourse is expected to increase further as the authorities have receivd 50 companies seeking approval to get listed on the exchange in 2022.

Tadawul is among the top 10 global stock markets and became the third publicly traded regional stock exchange when it was listed in December 2021, after the Dubai Financial Market and Boursa Kuwait.

Majority of the shares of the bourse are owned by Saudi Arabia’s SWF Public Investment Fund. The bourse raised $1.01 billion and was 121 times oversubscribed. The company sold 36 million shares representing 30% of its issued share capital to institutional and individual investors.