Saudi Stock Exchange

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Tadawul
Tadawul.gif
Founded 2001
Headquarters Riyadh, Saudi Arabia
Products Cash equities, bonds and mutual funds
Website http://www.tadawul.com.satp/

The Saudi Stock Exchange (Tadawul) is the country’s only securities platform, and with a market capitalization of SR1,946bn at the end of 2007 ranks as one of the world’s largest emerging-market bourses. The electronic platform, recently upgraded by OMX also lists bonds and mutual funds.

The state-owned Tadawul was converted to a joint stock company in 2007, and is slated for an IPO within two years. Officials are also considering the lifting of retrictions on share-dealing by foreigners.

History

The Tadawul was launched in October 2001, replacing the bank-run trading system expanded during the 1980s, and introducing electronic trading in 1991. A new system, provided by OMX, was introduced in 2007.

Market capitalization rose from SAR275bn in 2001 to to SR1,946bn at the end of 2007, with 107 listed entities drawn from banking and diversified industrial and construction, providing the platform for the country's privatization program. The exchange was converted into a joint stock company in March 2007 with a capital of SR1.2bn controlled by the state Public Investment Fund[1].


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Products and Services

Key People

References

  1. History. Tadawul.