Four Saudi companies are moving forward with plans to go public on the local financial market amidst uncertainty in investor confidence due to past market volatility.
Several Saudi companies are progressing with plans for initial public offerings (IPOs) on the Riyadh Stock Exchange, a move that is expected to gauge investor appetite in spite of the general index pressures experienced last year due to oil price fluctuations and geopolitical risks. Among these companies is a provider of oil field services, an industrial firm, a telecommunications operator, and a construction company. Notably, the year 2026 has not seen any major listings yet, in contrast to at least three offerings during the same period last year.
According to sources cited by Bloomberg, one of the potential listings includes Al-Khorayef Petroleum, which has begun collaboration with financial giants like Citigroup, JP Morgan, and PSF Capital to explore the sale of stocks. Based in Dammam, this company operates in the Middle East, Africa, and Latin America, and is controlled by Al-Khorayef Group, with the Public Investment Fund being among its shareholders.
In a related note, ArcelorMittal Tubular Products is also considering a possible listing, with backing from the Public Investment Fund (the sovereign wealth fund) and ArcelorMittal, reflecting a growing trend of significant companies seeking funding through the stock market as a way to capitalize on public investment opportunities amid economic fluctuations.
