Riyadh – Sharikat Mubasher: Multiple Saudi companies are moving ahead with plans to list on the Riyadh stock exchange, testing investor appetite at a time when volatile oil prices and geopolitical uncertainty have weighed on the benchmark index.
As reported by Bloomberg, firms considering initial public offerings span multiple sectors, including oilfield services, manufacturing, telecommunications, and construction. A successful pipeline would provide a lift to the Saudi market, which has yet to record a major listing in 2026, compared with at least three IPOs completed by the same period last year.
Among the potential deals is AlKhorayef Petroleum, which has started working with Citigroup, JPMorgan Chase, and BSF Capital on a possible share sale, according to people familiar with the matter. The Dammam-based company operates across the Middle East, Africa, and Latin America and is controlled by AlKhorayef Group. Saudi Arabia’s Public Investment Fund is among its shareholders.
Separately, ArcelorMittal Tubular Products Jubail, backed by the Public Investment Fund and ArcelorMittal, is working with Moelis & Co. on a potential listing and is in talks to appoint additional banks. Telecommunications provider Etihad Salam Telecom is also preparing for an IPO arranged by BSF Capital, while Mutlaq AlGhowairi Contracting is exploring a share sale that could value the company at up to SAR 15 billion.
No final decisions have been made, and the transactions remain subject to market conditions. If completed, the listings would help boost trading volumes in Riyadh, though valuations are expected to be closely scrutinized following mixed IPO performance last year.
