Markets Two IPOs scrapped on Saudi Arabia’s junior market By Pramod Kumar June 4, 2025, 2:06 PM Reuters/Faisal Al Nasser The Saudi Exchange was the 11th largest stock market in the world last month with a market capitalisation of SAR9.5 trillion Alkhaldi and Dome IPOs voided Reasons not specified Refunds by Wednesday Two planned initial public offerings (IPOs) on Saudi Arabia’s junior stock market have been scrapped. Yaqeen Capital and Watheeq Capital, the respective lead managers and financial advisors for Alkhaldi Logistics Company and Dome International Investment, announced that the IPOs had been declared void. The statements did not specify the reasons for the cancellations. Refund of the subscription amounts will be completed by Wednesday, the statements said. In June, the Capital Market Authority approved Dome International’s request to float 850,000 shares at SAR42 ($11.20) per share. Subscriptions were open from May 19 to June 1. Special purpose companies proposed to boost Saudi IPOs Saudi capital markets hit SAR1 trillion mark in 2024 Saudi IPOs bounce back ‘quicker than expected’ Alkhaldi Logistics received regulatory approval in December 2024 to offer 1.05 million shares at SAR47 per share. The subscription window ran from May 27 to June 1. Last month AGBI reported that the Saudi Exchange was the 11th largest stock market in the world with a market capitalisation of SAR9.5 trillion. Last year the Tadawul held 40 initial public offerings, of which 15 were on the main market. The IPOs raised a combined $4.1 billion. Register now: It’s easy and free AGBI registered members can access even more of our unique analysis and perspective on business and economics in the Middle East. Why sign uP Exclusive weekly email from our editor-in-chief Personalised weekly emails for your preferred industry sectors Read and download our insight packed white papers Access to our mobile app Prioritised access to live events Register for free Already registered? Sign in I’ll register later Register now: It’s easy and free AGBI registered members can access even more of our unique analysis and perspective on business and economics in the Middle East. Why sign uP Exclusive weekly email from our editor-in-chief Personalised weekly emails for your preferred industry sectors Read and download our insight packed white papers Access to our mobile app Prioritised access to live events Register for free Already registered? Sign in I’ll register later
