The limits of more IPOs as a fix for Saudi Arabia’s stock market
Semafor says Wael Mahdi argues that listing more companies alone won’t solve the market’s problems. Mahdi writes that Tadawul’s benchmark index fell 12.8% in 2025, its steepest annual decline in a decade.
TLDR
Semafor says Wael Mahdi argues that Saudi Arabia’s stock market has problems more listings alone cannot fix. Mahdi writes that Tadawul’s market value was about 9.30 trillion riyals ($2.48 trillion) in the week ended September 24, but its benchmark index fell 12.8% in 2025—its steepest annual decline in a decade. He also says the market now has a regulator who has experienced its shortcomings as both an investor and a government official.
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