New proposals change the features of the Saudi Market away from banks and energy

Saudi Arabia is moving forward with the diversification of its economy of oil, and this time the attention is drawn to the stock market. The Kingdom sees a boom in the initial proposals, as emerging technology companies and financial services institutions offer their shares for subscription, which increases the diversity of the market, which has been under the control of banks and petrochemical enterprises for many years. The Body Master Fitness Clubs Series and Yeloe to rent cars are one of the latest private ownership companies planning for a preliminary public offer for their shares in the main market in the Kingdom, according to people who were asked not to publish their names due to the privacy of information. It is added to a list of candidates for the listing, including a poultry production company and another, which benefits from the reforms made by Crown Prince Mohammed Bin Salman in the context of his pursuit to open the local economy and promote healthy lifestyles between citizens and attract more tourists. The Saudi stock market in a new dress, “The market has become a better representative of the economy and gained a greater depth,” said Mohamed Al -Sweden, CEO of the financial consulting company “Razin Capital”, which added that “the more companies in which it can be invested, the more attractive (the market).” Initial proposals in the Saudi main market according to the sector, the number of inductions in 2024 Food and Beverages 3 Commercial and Professional Services 2 Equipment and Health Care Services 2 Medicines and Biotechnology and Life Sciences 1 Property Property Counties Distributing 1 Facilities 1 Capital Goods 1 Insurance 1 Home and Personal Products 1 Financial Services 1 Segmentation and Distribution of Consumer Dollars To implement not -oil -growth, provide jobs and attract foreign investors. The development of strong financial markets is a large part of the plan, with more private businesses entering the subscription list of subscriptions, along with state -controlled companies in the light of the government’s effort to benefit financially from some of its assets. 15 Companies included their shares in the main market during 2024, which is the largest number since 2022, according to the group “Tadawal Saudi Arabia” operating the stock exchange. Food and beverage businesses have the lead in descriptions, followed by commercial, professional and healthcare companies. Also read: “Production” intends to offer 30% of its shares on the Saudi Stock Exchange. According to Ramiz Hlazon, head of stock markets in HSBC Saudi Arabia, one of the largest local public subscription managers, more diversity will take place in the coming months. Transformative industries hardly lead to major new proposals in the sector. The largest agreement last year was the secondary offer of $ 12 billion in the shares of the giant oil company “Saudi Aramco”. The energy sector in the main market has seen no general subscriptions. Foreign ownership that strengthens the sovereign fund of the kingdom has included a number of businesses in its portfolio over the past few years and plans to start at least three other businesses, including the largest medical purchase business in the country, according to Bloomberg earlier. Also read: Saudi Arabia allows foreigners to invest in the shares of real estate companies in Makkah and Medina to increase the initial public proposals. The market gives a greater variety in terms of sectors and ownership and “we hope that investors will no longer allow -oil stock shares,” according to Manbert Jel, head investment officer for Africa, the Middle East and Europe at Standard Chartered. Ownership of foreign investors qualified in the Saudi stock market valuable year (one billion dollars) 2024 90 2023 85 2022 72 2021 66 2020 42 Source: Bloomberg data “By returning 15 years, many investors withheld the allocation of independent investment to the Golf region, because Buy, “” Gil said. Revelation, which has contributed to attracting more money from external investors. On the contrary, the performance of the Saudi stock market in general became weaker than its counterparts in the region and many emerging markets in 2024. The sports club company “Body Master” chose the “Saudi -Fransi Bank” as a consultant for the initial public presentation of its shares in Saudi Arabia, according to people who are familiar with more details. As for the “Yelu” car rental business, it has been appointed as “Al -Rajhi Bank” to give advice on the sale of shares, according to other people who are familiar. Body Master, Yelu, nor “Al -Rajhi Bank” immediately responded to requests for comment, while the “Saudi -Fransi bank” refused to comment.