‎IPO funds trail peers over past 2 years

‎<p><img src="https://argaamplus.s3.amazonaws.com/c10f4e3a-9da4-439b-a5ea-4c9f21d8e62a.png" ></p> <p class="ckeCaption" >Tadawul trading screen</p> <hr> <p >A survey by <span ><strong>Argaam </strong></span>of investment funds active in the Saudi market showed that funds investing in Saudi equities, particularly IPOs, topped the list of the biggest decliners over the past two years.</p> <p ></p> <p >The data showed that most of the investment funds active in Saudi equities — about 110 funds — posted varying losses, while only 15 funds recorded gains of varying degrees over the past two years.</p> <p ></p> <p >SEDCO Capital IPO Fund was the worst-performing Saudi equity fund, declining by nearly 34%.</p> <p ></p> <p><strong><span >Performance of Saudi equity investment funds investing in IPOs</span></strong></p> <table align="center" border="1" cellpadding="0" cellspacing="0" width="100%"> <tbody> <tr> <td > <p ><strong><span >Fund Name</span></strong></p> </td> <td > <p align="center" ><strong><span >Net Asset Value (SAR mln)</span></strong></p> </td> <td > <p align="center" ><strong><span >Two-Year Change*</span></strong></p> </td> </tr> <tr> <td > <p ><strong>SEDCO Capital IPO Fund</strong></p> </td> <td > <p align="center" >27.6</p> </td> <td > <p align="center" ><span >(34%)</span></p> </td> </tr> <tr> <td > <p ><strong>Yaqeen IPO Fund</strong></p> </td> <td > <p align="center" >28.0</p> </td> <td > <p align="center" ><span >(29%)</span></p> </td> </tr> <tr> <td > <p ><strong>Osool Bakheet IPO Trading Fund </strong></p> </td> <td > <p align="center" >3.0</p> </td> <td > <p align="center" ><span >(27%)</span></p> </td> </tr> <tr> <td > <p ><strong>Alinma IPO Fund</strong></p> </td> <td > <p align="center" >68.7</p> </td> <td > <p align="center" ><span >(27%)</span></p> </td> </tr> <tr> <td > <p ><strong>Osool Bakheet IPO Fund</strong></p> </td> <td > <p align="center" >28.8</p> </td> <td > <p align="center" ><span >(27%)</span></p> </td> </tr> <tr> <td > <p ><strong>ANB Capital IPO Fund</strong></p> </td> <td > <p align="center" >171.6</p> </td> <td > <p align="center" ><span >(26%)</span></p> </td> </tr> <tr> <td > <p ><strong>Value Capital IPO Fund</strong></p> </td> <td > <p align="center" >8.2</p> </td> <td > <p align="center" ><span >(26%)</span></p> </td> </tr> <tr> <td > <p ><strong>BMK IPO Fund</strong></p> </td> <td > <p align="center" >2.0</p> </td> <td > <p align="center" ><span >(10%)</span></p> </td> </tr> </tbody> </table> <div class="ckeCaption" >*From Sept. 20, 2024, to Sept. 20, 2026.</div> <p ></p> <p >Most of the stocks listed over the past two years in the Saudi market also recorded declines, with only five of the 22 companies listed during the period posting gains.</p> <p ></p> <p ><strong><span >Top stock decliners over past two years</span></strong></p> <table border="1" cellpadding="0" cellspacing="0" width="100%"> <tbody> <tr> <td > <p ><strong><span >Company</span></strong></p> </td> <td > <p align="center" ><strong><span >Listing Date</span></strong></p> </td> <td > <p align="center" ><strong><span >Decline Rate</span></strong></p> </td> </tr> <tr> <td > <p ><strong>Nice One</strong></p> </td> <td > <p align="center" >January 2025</p> </td> <td > <p align="center" ><span >(71%)</span></p> </td> </tr> <tr> <td > <p ><strong>Entaj</strong></p> </td> <td > <p align="center" >March 2025</p> </td> <td > <p align="center" ><span >(60%)</span></p> </td> </tr> <tr> <td > <p ><strong>Build Station</strong></p> </td> <td > <p align="center" >September 2025</p> </td> <td > <p align="center" ><span >(60%)</span></p> </td> </tr> <tr> <td > <p ><strong>Al Majdiah</strong></p> </td> <td > <p align="center" >September 2025</p> </td> <td > <p align="center" ><span >(56%)</span></p> </td> </tr> <tr> <td > <p ><strong>UCIC</strong></p> </td> <td > <p align="center" >May 2025</p> </td> <td > <p align="center" ><span >(52%)</span></p> </td> </tr> <tr> <td > <p ><strong>Arabian Mills</strong></p> </td> <td > <p align="center" >October 2024</p> </td> <td > <p align="center" ><span >(46%)</span></p> </td> </tr> <tr> <td > <p ><strong>flynas</strong></p> </td> <td > <p align="center" >June 2025</p> </td> <td > <p align="center" ><span >(45%)</span></p> </td> </tr> <tr> <td > <p ><strong>Tasheel</strong></p> </td> <td > <p align="center" >December 2024</p> </td> <td > <p align="center" ><span >(43%)</span></p> </td> </tr> <tr> <td > <p ><strong>CGS</strong></p> </td> <td > <p align="center" >December 2025</p> </td> <td > <p align="center" ><span >(37%)</span></p> </td> </tr> </tbody> </table> <p></p> <p >The Capital Market Authority (CMA) recently invited all interested parties and market participants to submit their views on the regulatory provisions related to its project to improve IPO practices. The consultation period runs for 30 days and ends on Oct. 22.</p> <p ></p> <p >The CMA said in a statement that the draft bill aims to strengthen the link between bids submitted by participating entities and their actual liquidity and ability to pay, and to reinforce compliance with bids under clear regulatory provisions, supporting the reliability of the bookbuilding process and its role in determining the offering price.</p>

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Argaam - Main News · Trade Publication

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24th September 2026

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argaam.com

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