Saudi bourse says five listed firms to remain off-limits to foreigners
A total of five Tadawul-listed firms will remain off-limits to qualified foreign institutional investors (QFIs) when the Saudi Stock Exchange opens up to foreigners on June 15, according to the web page launched by Tadawul for QFIs on Tuesday.
The exchange identified these companies as Taiba Holding, Knowledge Economic City, Jabal Omar, Makkah Construction and Development Co., and National Shipping Company of Saudi Arabia (Bahri).
Bahri previously said that it would allow foreign investment in its stock but failed to disclose its ownership limitations.
Meanwhile, a total of 165 listed companies will be open to foreign investment later this month, each of which has limited the percentage of shares available to QFIs.
Under new rules introduced last month by the Capital Market Authority (CMA), a single foreign institutional investor can own up to five percent of a listed company, while QFIs collectively can hold a maximum of 20 percent of a listed firm.
Saudi income tax laws will also apply to foreign investors, and a five percent tax will be imposed on dividends given to them by companies.
All foreign investors (including resident and non-resident) can collectively own up to 49 percent of shares.
Tadawul Listed Firms |
|||||
Remaining percentage |
Current percentage |
Maximum investment |
Maximum investment |
Company |
|
48.96% |
0.04% |
49% |
20% |
Petrochem |
|
48.93% |
0.07% |
49% |
20% |
Southern Province Cement |
|
48.91% |
0.09% |
49% |
20% |
Umm Al-Qura Cement |
|
48.90% |
0.10% |
49% |
20% |
Saudi Electricity Co. |
|
48.86% |
0.14% |
49% |
20% |
Al-Bilad |
|
48.85% |
0.15% |
49% |
20% |
Takween |
|
48.85% |
0.15% |
49% |
20% |
National Medical Care Co. |
|
48.80% |
0.20% |
49% |
20% |
STC |
|
48.78% |
0.22% |
49% |
20% |
Al-Babtain |
|
48.77% |
0.23% |
49% |
20% |
SAFCO |
|
48.77% |
0.23% |
49% |
20% |
Qassim Cement |
|
48.76% |
0.24% |
49% |
20% |
National Gas and Industrialization Co. |
|
48.75% |
0.25% |
49% |
20% |
Tihama Advertising and Public Relations Co. |
|
48.74% |
0.26% |
49% |
20% |
Electrical Industries Co. |
|
48.74% |
0.26% |
49% |
20% |
Dur Hospitality Co. |
|
48.74% |
0.26% |
49% |
20% |
Saudi Real Estate Co. |
|
48.73% |
0.27% |
49% |
20% |
Najran Cement |
|
48.70% |
0.30% |
49% |
20% |
Eastern Province Cement |
|
48.70% |
0.30% |
49% |
20% |
Al Alamiya for Cooperative Insurance Co. |
|
48.69% |
0.31% |
49% |
20% |
Saudi Paper Manufacturing Co. |
|
48.68% |
0.32% |
49% |
20% |
Al-Hokair Group |
|
48.67% |
0.33% |
49% |
20% |
Saudi Research and Marketing Group |
|
48.66% |
0.34% |
49% |
20% |
Maaden |
|
48.66% |
0.34% |
49% |
20% |
Northern Region Cement |
|
48.64% |
0.36% |
49% |
20% |
Al-Abdullatif Industrial Investment Co. |
|
48.63% |
0.37% |
49% |
20% |
Bawan Co. |
|
48.62% |
0.38% |
49% |
20% |
Farm Superstore |
|
48.57% |
0.43% |
49% |
20% |
Saudi Chemical Co. |
|
48.57% |
0.43% |
49% |
20% |
NADEC |
|
48.57% |
0.43% |
49% |
20% |
Aljazira Takaful Taawuni Co. |
|
48.56% |
0.44% |
49% |
20% |
Saudi Vitrified Clay Pipes Co. |
|
48.56% |
0.44% |
49% |
20% |
Aseer Trading, Tourism and Manufacturing Co. |
|
48.55% |
0.45% |
49% |
20% |
Saudi Printing and Packaging Co. |
|
48.55% |
0.45% |
49% |
20% |
Trade Union Cooperative Insurance Co. |
|
48.51% |
0.49% |
49% |
20% |
Saudi Transport and Investment Co. |
|
48.51% |
0.49% |
49% |
20% |
Arriyadh Development Co. |
|
48.47% |
0.53% |
49% |
20% |
Riyad Bank |
|
48.44% |
0.56% |
49% |
20% |
Al-Khodari |
|
48.43% |
0.57% |
49% |
20% |
SASCO |
|
48.43% |
0.57% |
49% |
20% |
Wataniya Insurance Co. |
|
48.40% |
0.60% |
49% |
20% |
Saudi Steel Pipe Co. |
|
48.39% |
0.61% |
49% |
20% |
Yanbu Cement |
|
48.36% |
0.64% |
49% |
20% |
Red Sea Housing Services Co. |
|
48.34% |
0.66% |
49% |
20% |
Saudi Fisheries Co. |
|
48.33% |
0.67% |
49% |
20% |
Arabian Cement Co. |
|
48.32% |
0.68% |
49% |
20% |
Hail Cement Co. |
|
48.30% |
0.70% |
49% |
20% |
Al Sorayai Group |
|
48.28% |
0.72% |
49% |
20% |
SABIC |
|
48.27% |
0.73% |
49% |
20% |
Saudi Kayan Petrochemical Co. |
|
48.26% |
0.74% |
49% |
20% |
Saudi Paper Manufacturing Co. |
|
48.21% |
0.79% |
49% |
20% |
Yamama Cement Co. |
|
48.19% |
0.81% |
49% |
20% |
Sahara Petrochemical Co. |
|
48.19% |
0.81% |
49% |
20% |
City Cement Co. |
|
48.19% |
0.81% |
49% |
20% |
Al-Rajhi Company for Cooperative Insurance |
|
48.18% |
0.82% |
49% |
20% |
National Metal Manufacturing and Casting Co. |
|
48.11% |
0.89% |
49% |
20% |
Zain Saudi |
|
48.06% |
0.94% |
49% |
20% |
Tasnee |
|
48.06% |
0.94% |
49% |
20% |
Saudi Industrial Development Co. |
|
48.06% |
0.94% |
49% |
20% |
National Agricultural Marketing Co. |
|
48.06% |
0.94% |
49% |
20% |
Emaar The Economic City |
|
48.05% |
0.95% |
49% |
20% |
Saudi Cement Co. |
|
48.05% |
0.95% |
49% |
20% |
Tabuk Cement Co. |
|
48.03% |
0.97% |
49% |
20% |
Chemanol |
|
48.01% |
0.99% |
49% |
20% |
National Gypsum Co. |
|
48.00% |
1.00% |
49% |
20% |
Basic Chemical Industries Co. |
|
48.00% |
1.00% |
49% |
20% |
Tabuk Agricultural Development Co. |
|
47.99% |
1.01% |
49% |
20% |
Qassim Agricultural Co. |
|
47.98% |
1.02% |
49% |
20% |
Saudi Public Transport Co. |
|
47.96% |
1.04% |
49% |
20% |
Al-Jouf Agricultural Development Co. |
|
47.94% |
1.06% |
49% |
20% |
Anaam International Holding Group |
|
47.94% |
1.06% |
49% |
20% |
Kingdom Holding Co. |
|
47.91% |
1.09% |
49% |
20% |
Al-Ahsa Development Co. |
|
47.91% |
1.09% |
49% |
20% |
Rabigh Refining and Petrochemical Co. |
|
47.91% |
1.09% |
49% |
20% |
Saudi Enaya Cooperative Insurance Co. |
|
47.87% |
1.13% |
49% |
20% |
Saudi Advanced Industries Co. |
|
47.86% |
1.14% |
49% |
20% |
FIPCO |
|
47.85% |
1.15% |
49% |
20% |
Al Sagr Cooperative Insurance Co. |
|
47.83% |
1.17% |
49% |
20% |
NCB |
|
47.83% |
1.17% |
49% |
20% |
Gulf Union Cooperative Insurance Co. |
|
47.81% |
1.19% |
49% |
20% |
Zamil Industrial Investment Co. |
|
47.79% |
1.21% |
49% |
20% |
Jazan Development Co. |
|
47.78% |
1.22% |
49% |
20% |
Al-Rajhi Bank |
|
47.74% |
1.26% |
49% |
20% |
Ash-Sharqiyah Development Co. |
|
47.73% |
1.27% |
49% |
20% |
Etihad Theeb Telecommunication Co. |
|
47.69% |
1.31% |
49% |
20% |
Saudi Arabian Amiantit Co. |
|
47.65% |
1.35% |
49% |
20% |
The National Company for Glass Industries |
|
47.65% |
1.35% |
49% |
20% |
Solidarity Saudi Takaful Co. |
|
47.62% |
1.38% |
49% |
20% |
Fitaihi Holding Group |
|
47.62% |
1.38% |
49% |
20% |
Arabian Shield Cooperative Insurance Co. |
|
47.60% |
1.40% |
49% |
20% |
Etihad Etisalat Co. |
|
47.59% |
1.41% |
49% |
20% |
Saudi Arabian Refineries Co. |
|
47.52% |
1.48% |
49% |
20% |
Sipchem |
|
47.51% |
1.49% |
49% |
20% |
Al Mojil Group |
|
47.45% |
1.55% |
49% |
20% |
Nama Chemicals Co. |
|
47.44% |
1.56% |
49% |
20% |
MESC |
|
47.42% |
1.58% |
49% |
20% |
United Cooperative Assurance Co. |
|
47.32% |
1.68% |
49% |
20% |
Al-Jouf Cement Co. |
|
47.28% |
1.72% |
49% |
20% |
Alinma |
|
47.27% |
1.73% |
49% |
20% |
Salama Cooperative Insurance Co. |
|
47.26% |
1.74% |
49% |
20% |
Saudi Industrial Investment Group |
|
47.08% |
1.92% |
49% |
20% |
Tourism Enterprise Co. |
|
47.07% |
1.93% |
49% |
20% |
Weqaya Takaful Insurance and Reinsurance Co. |
|
47.05% |
1.95% |
49% |
20% |
Al-Hokair Group |
|
47.04% |
1.96% |
49% |
20% |
Bishah Agricultural Development Co. |
|
47.00% |
2.00% |
49% |
20% |
Dallah Healthcare Holding Co. |
|
46.93% |
2.07% |
49% |
20% |
SAVOLA |
|
46.83% |
2.17% |
49% |
20% |
Saudi Cable Co. |
|
46.79% |
2.21% |
49% |
20% |
Wafrah for Industry and Development Co. |
|
46.77% |
2.23% |
49% |
20% |
Saudi Industrial Export Co. |
|
46.70% |
2.30% |
49% |
20% |
United Wire Factories Co. |
|
46.69% |
2.31% |
49% |
20% |
Gulf General Cooperative Insurance Co. |
|
46.68% |
2.32% |
49% |
20% |
SACO |
|
46.61% |
2.39% |
49% |
20% |
Saudi Pharmaceutical Industries and Medical Appliances Corp. |
|
46.57% |
2.43% |
49% |
20% |
Saudi Re for Cooperative Reinsurance Co. |
|
46.55% |
2.45% |
49% |
20% |
Buruj Cooperative Insurance Co. |
|
46.54% |
2.46% |
49% |
20% |
Yansab |
|
46.17% |
2.83% |
49% |
20% |
SAICO |
|
46.13% |
2.87% |
49% |
20% |
Saudi Ceramic Co. |
|
45.89% |
3.11% |
49% |
20% |
Malath Cooperative Insurance and Reinsurance Co. |
|
45.84% |
3.16% |
49% |
20% |
Almarai |
|
45.76% |
3.24% |
49% |
20% |
Al-Baha Investment and Development Co. |
|
45.65% |
3.35% |
49% |
20% |
Allied Cooperative Insurance Group |
|
45.63% |
3.37% |
49% |
20% |
eXtra |
|
45.57% |
3.43% |
49% |
20% |
Shaker Group |
|
45.49% |
3.51% |
49% |
20% |
Saudi Airlines Catering Co. |
|
45.46% |
3.54% |
49% |
20% |
Advanced Petrochemical Co. |
|
45.09% |
3.91% |
49% |
20% |
Saudi Industrial Services Co. |
|
44.61% |
4.39% |
49% |
20% |
Al-Othaim |
|
44.52% |
4.48% |
49% |
20% |
Al Hammadi Company for Development and Investment |
|
44.42% |
4.58% |
49% |
20% |
Alujain Corp. |
|
44.23% |
4.77% |
49% |
20% |
Adrees Petroleum and Transport Services Co. |
|
44.20% |
4.80% |
49% |
20% |
Sanad Insurance |
|
44.13% |
4.87% |
49% |
20% |
The Company for Cooperative Insurance |
|
43.94% |
5.06% |
49% |
20% |
Amana Cooperative Insurance Co. |
|
42.74% |
6.26% |
49% |
20% |
Aljazira Bank |
|
42.49% |
6.51% |
49% |
20% |
SAMBA Financial Group |
|
41.75% |
7.25% |
49% |
20% |
Dar Alarkan Real Estate Development Co. |
|
41.69% |
7.31% |
49% |
20% |
SADAFCO |
|
41.35% |
7.65% |
49% |
20% |
Wala’a |
|
41.08% |
7.92% |
49% |
20% |
Al-Tayyar |
|
40.49% |
8.51% |
49% |
20% |
Al-Ahlia Insurance Co. |
|
40.10% |
8.90% |
49% |
20% |
Jarir |
|
39.65% |
9.35% |
49% |
20% |
MEDGULF |
|
39.31% |
9.69% |
49% |
20% |
Halwani Bros. Co. |
|
38.83% |
0.17% |
49% |
20% |
Saudi Investment Bank |
|
37.39% |
11.61% |
49% |
20% |
Mouwasat Medical Services Co. |
|
35.38% |
13.62% |
49% |
20% |
Wafa Insurance |
|
34.23% |
14.77% |
49% |
20% |
Herfy Food Services Co. |
|
33.54% |
15.46% |
49% |
20% |
Astra Industrial Group |
|
32.76% |
16.24% |
49% |
20% |
Budget Saudi |
|
32.35% |
16.65% |
49% |
20% |
Saudi Steel Pipe Co. |
|
31.32% |
17.68% |
49% |
20% |
Alkhaleej Training and Education Co. |
|
30.05% |
18.95% |
49% |
20% |
AXA Cooperative Insurance Co. |
|
19.10% |
29.90% |
49% |
20% |
Alahli Takaful Co. |
|
18.94% |
30.06% |
49% |
20% |
Alinma Tokio Marine Co. |
|
18.31% |
30.69% |
49% |
20% |
ACE Arabia Cooperative Insurance Co. |
|
17.14% |
31.86% |
49% |
20% |
Banque Saudi Fransi |
|
16.60% |
32.40% |
49% |
20% |
Arabia Insurance Cooperative Co. |
|
15.91% |
33.09% |
49% |
20% |
SABB Takaful Co. |
|
15.80% |
33.20% |
49% |
20% |
Allianz Saudi Fransi Cooperative Insurance Co. |
|
15.69% |
33.31% |
49% |
20% |
Bupa Arabia |
|
8.72% |
40.28% |
49% |
20% |
Anb Insurance |
|
8.14% |
40.86% |
49% |
20% |
Arab National Bank |
|
7.40% |
41.60% |
49% |
20% |
SABB |
|
7.17% |
41.83% |
49% |
20% |
Saudi Hollandi Bank |
|
-- |
-- |
-- |
-- |
Taiba Holding Co. |
|
-- |
-- |
-- |
-- |
Makkah Construction and Development Co. |
|
-- |
-- |
-- |
-- |
Jabal Omar Development Co. |
|
-- |
-- |
-- |
-- |
Knowledge Economic City |
|
(0.59%) |
0.59% |
-- |
-- |
Bahri |
|
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