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3 Firms Listed in Saudi Stock Market in 2018

The year 2019 is forecast to witness the biggest listings in the local Saudi stock market. (Getty Images)
The year 2019 is forecast to witness the biggest listings in the local Saudi stock market. (Getty Images)
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3 Firms Listed in Saudi Stock Market in 2018

The year 2019 is forecast to witness the biggest listings in the local Saudi stock market. (Getty Images)
The year 2019 is forecast to witness the biggest listings in the local Saudi stock market. (Getty Images)

The year 2019 is forecast to witness the biggest listings in the local Saudi stock market after 2018 witnessed the listing of two firms in the primary market and one in the Nomu parallel market.

Tadawul witnessed the issuance of eight sovereign funds in 2018 – the IPO of the two listed firms in the primary market witnessed operations covering up to 327 percent by individual investors.

In this regard, Tadawul witnessed in 2018 the IPO of Leejam Sports Company, representing a 30 percent stake. The National Company for Learning and Education (NCLE) issued an IPO for 30.2 percent.

In the same context, the Tadawul All-Share Index (TASI) jumped Thursday 0.5 percent, closing at 7,830 points, rising 40 points. The overall value of trading totaled around SAR1.9 billion (USD506.6 million).

Investors in the stock market are awaiting the results of financial firms in Q4 2018, which began to be released on Tuesday. The results are estimated to be close to Q3 2018 levels.

The Ministry of Commerce and Investment had previously reported that the number of companies and institutions in the Kingdom jumped 35 percent during Q3 2018, compared to the same period of 2017, to reach 945,600.

The number of enterprises reached 824,700 in 2017 compared to 701,300 in the third quarter in 2016.

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China Expands Visa-free Entry to More Countries in Bid to Boost Economy

Shoppers with their purchased goods walk past a popular outdoor shopping mall in Beijing, on Nov. 14, 2024. (AP Photo/Andy Wong)
Shoppers with their purchased goods walk past a popular outdoor shopping mall in Beijing, on Nov. 14, 2024. (AP Photo/Andy Wong)
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China Expands Visa-free Entry to More Countries in Bid to Boost Economy

Shoppers with their purchased goods walk past a popular outdoor shopping mall in Beijing, on Nov. 14, 2024. (AP Photo/Andy Wong)
Shoppers with their purchased goods walk past a popular outdoor shopping mall in Beijing, on Nov. 14, 2024. (AP Photo/Andy Wong)

China announced Friday that it would expand visa-free entry to citizens of nine more countries as it seeks to boost tourism and business travel to help revive a sluggish economy.
Starting Nov. 30, travelers from Bulgaria, Romania, Malta, Croatia, Montenegro, North Macedonia, Estonia, Latvia and Japan will be able to enter China for up to 30 days without a visa, Foreign Ministry spokesperson Lin Jian said.
That will bring to 38 the number of countries that have been granted visa-free access since last year. Only three countries had visa-free access previously, and theirs had been eliminated during the COVID-19 pandemic.
The permitted length of stay for visa-free entry is being increased from the previous 15 days, Lin said, and people participating in exchanges will be eligible for the first time. China has been pushing people-to-people exchange between students, academics and others to try to improve its sometimes strained relations with other countries, The Associated Press reported.
China strictly restricted entry during the pandemic and ended its restrictions much later than most other countries. It restored the previous visa-free access for citizens of Brunei and Singapore in July 2023, and then expanded visa-free entry to six more countries — France, Germany, Italy, the Netherlands, Spain and Malaysia — on Dec. 1 of last year.
The program has since been expanded in tranches. Some countries have announced visa-free entry for Chinese citizens, notably Thailand, which wants to bring back Chinese tourists.
For the three months from July through September this year, China recorded 8.2 million entries by foreigners, of which 4.9 million were visa-free, the official Xinhua News Agency said, quoting a Foreign Ministry consular official.