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SA · EMEA · Main Market
Saudi Exchange (Tadawul)
Saudi Tadawul Group · Riyadh · SAR
Largest MENA venue; exceptional retail demand and Gulf sovereign liquidity.
Eligibility · Meridian Renewables (example)
Conditional
1 requirement(s) not yet met — see eligibility below.
Min market cap
$80M
admission floor
Min free float
30%
public hands
Est. all-in
5.1%
on $700M
Time to list
22–26w
from kickoff
Regulator
CMA
oversight
Eligibility check
✓
Market capitalisation
Requirement: ≥ $80M
$4.8B
✕
Free float
Requirement: ≥ 30%
~15%
✓
Operating history
Requirement: ≥ 3 yrs
11 yrs
✓
Profit / revenue test
Requirement: Profitability / track record
Profitable
!
Governance standard
Requirement: CMA Governance
Gaps
✓
Accounting
Requirement: IFRS (KSA)
IFRS
Rules as of 2026-Q2 · source: Saudi Exchange Listing Rules (CMA (Saudi Arabia), SA). Compiled summary — validate against the primary source before filing.
Fees & cost
Est. all-in · $700M raise$35M 5.1%
Underwriting spread4.0% · $28M
Initial listing feeSAR 0.5M
Annual feeSAR 0.3M
Legal · audit · IR · other$7.4M
Total all-in$35M (5.1%)
Market quality & investors
Liquidity★★★★☆
Analyst coverage★★★☆☆
Retail participation★★★★★
Institutional depth★★★★☆
Index inclusion
TASI
Aftermarket: +22% avg first-day
Process & sectors
Typical time-to-list22–26w
RegulatorCMA
Dual / secondary listingNot standard
Min public shareholders200
Sector strength
EnergyFinancialsMaterialsConsumer
Notable listings: Aramco, ACWA Power
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