Riyadh: The Saudi Stock Exchange (Tadawul) announced today the release of its 2018 annual report, that highlights the company's performance and major achievements.
Some key highlights were the growth of Gross Profit compared to the year before 2018 by 14% reaching 285 million SAR, operating revenue increased by 6.9% to 583 million SAR, operating profits showed an increase of 29.2% and Tadawul All Shares Index (TASI) up 8.3% for the year.
In 2018, Tadawul has been upgraded to emerging market status and to be included in three preeminent global index providers MSCI, FTSE Russell and S&P Dow Jones. The annual report also highlights the rise in the number of Qualified Foreign Investors from around 100 at the start of the year to almost 500 at the end, an increase of 400%. Total market capitalization of Tadawul grew 10% in 2018, spurred in part by the addition of 12 new listings, which increased the total number of listed companies to 190.
Tadawul also announced the establishment of a Securities Clearing Center Company (Muqassa) and the launch MSCI Tadawul 30 (MT30) index. This paves the way for introducing derivatives, one of the initiatives under the Financial Sector Development Program (FSDP) Kingdom's Vision 2030. With the introduction of the MSCI Tadawul 30 Index and derivatives market, Tadawul continues to build on its commitment to create new opportunities for issuers and investors and to lead capital market development in the GCC and MENA region
Turning to the future, Tadawul has embarked on a new five-year strategic plan in 2018. It is built on a structure comprising seven pillars, that includes introducing a wider pool of products and markets, in addition to developing the market infrastructure and enhancing its effectiveness and information.
To reach its goals, Tadawul requires talent of the highest caliber, and empower Saudi women, as they represent 23% of the employees and 30% of the leadership and decision-making positions were held by women. Tadawul is keen on building best on class work environment and keeping it through training, development and build loyalty programs.
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About Tadawul
Saudi Stock Exchange (Tadawul) is the sole entity authorized in the Kingdom of Saudi Arabia to act as the kingdom’s securities exchange (the Exchange), listing and trading in securities. The Saudi stock market is the 24th largest stock market among the 67 members of the World Federation of Exchanges and is the dominant market in the Gulf Cooperation Council (GCC) comprising 51 percent of total GCC market capitalization and 77 percent of value traded. The Exchange is the 7th largest stock market amongst its emerging market peers. For more information see: www.tadawul.com.sa
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