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Value of Saudi bourse rises 14% to $3 trillion in 2023

By Pramod Kumar
Olam Group said the regulatory framework for listing on the Saudi stock exchange is still being worked out Reuters/Faisal Al Nasser
Olam Group said the regulatory framework for listing on the Saudi stock exchange is still being worked out

The total market capitalisation of the Saudi stock exchange rose 14 percent year on year to SAR 11.26 trillion ($3 trillion) in 2023 on higher turnover value, the Saudi Exchange (Tadawul), the operator of the bourse, said in a report.

The number of trades executed during the year rose 6.96 percent to 94.02 million from 87.90 million in the previous year.

The total value of shares traded reached SAR1.33 trillion ($355.5 billion), falling 21.95 percent, compared to SAR 1.71 trillion in 2022.

Trading volume hit 83.03 billion shares last year compared to 83.69 billion in 2022, a decrease of 0.79 percent.

Tadawul All Share Index (Tasi) closed at 11,967.39 points by the end of 2023, compared to 10,478.46 points in 2022, a rise of 14.21 percent.

The Capital Market Authority confirmed in December that 46 initial public offering (IPO) requests were still under study in the third quarter of 2023.

Five listing requests were for the main market (Tasi) and 41 requests were pending for the Nomu-Parallel Market, the market regulator said in its quarterly statistical bulletin.

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