Revealed: Top 10 companies in Saudi Arabia in 2018
The biggest listed companies in Saudi Arabia by market capitalisation
Saudi Arabia’s Tadawul, which had a good first half registering double digit gains consequently pared down its gains as the news of much awaited Saudi Aramco IPO was put on hold.
The recovery of oil price, which has now more than doubled since its low in 2016, and successful issuance of bonds to raise capital from international markets has enabled Saudi Arabia to better manage its finances.
For most of this year, Saudi Arabia has been a favourite among investors, largely because of Saudi Arabia’s inclusion into the MSCI emerging markets index.
Debt market
Since the decrease in oil revenues, following the precipitous price plunge in mid-2014, Saudi Arabia has been one of the biggest bond issuers in emerging markets, beginning with its sale of dollar bonds in 2016. It raised $21.5bn in 2017 and $17.5bn in 2016, and plans to borrow the equivalent of $31bn this year to bridge the expected budget deficit of $52bn and to fund growth plans after its economy shrank last year.
Furthermore, Saudi Arabia has raised $2bn in new Sukuk, or Islamic bonds, completing its external funding requirements for 2018.
TOP 10 SAUDI ARABIAN COMPANIES BY MARKET CAP
(By market capitalisation as of September 11, 2018. Source: Reuters Eikon, Markaz Research)
1. Saudi Basic Industries Corporation (SABIC)
Market capitalisation: $95.18bn
Sector: Chemicals
Change in ranking: 0
2. Saudi Telecom Company (STC)
Market capitalisation: $44.15bn
Sector: Telecommunication
Change in ranking: 1
3. Al Rajhi Banking & Investment Corporation
Market capitalisation: $36.18bn
Sector: Banking and Financial Services
Change in ranking: 0
4. National Commercial Bank
Market capitalisation: $32.79bn
Sector: Banking and Financial services
Change in ranking: 0
5. Saudi Electricity Company
Market capitalisation: $18.89bn
Sector: Utilities
Change in ranking: 0
6. Saudi Arabian Mining Co (Maaden)
Market capitalisation: $15.73bn
Sector: Chemicals
Change in ranking: 2
7. Samba Financial Group
Market capitalisation: $15.49bn
Sector: Banking and Financial Services
Change in ranking: 5
8. Almarai Co
Market capitalisation: $14.05bn
Sector: Food and Beverages
Change in ranking: 0
9. Saudi British Bank
Market capitalisation: $12.94bn
Sector: Banking and Financial Services
Change in ranking: 5
10. Riyad Bank
Market capitalisation: $12.48bn
Sector: Banking and Financial Services
Change in ranking: 6
