Tadawul trading screen
A survey by Argaam 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. 
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.
SEDCO Capital IPO Fund was the worst-performing Saudi equity fund, declining by nearly 34%.
Performance of Saudi Equity Investment funds Investing in IPOs
Fund Name
Net Asset Value (SAR mln)
Two-Year Change*
SEDCO Capital IPO Fund
27.6
(34%)
Yaqeen IPO Fund
28.0
(29%)
Osool Bakheet IPO Trading Fund
3.0
(27%)
Alinma IPO Fund
68.7
(27%)
Osool Bakheet IPO Fund
28.8
(27%)
ANB Capital IPO Fund
171.6
(26%)
Value Capital IPO Fund
8.2
(26%)
BMK IPO Fund
2.0
(10%)
Most of the stocks listed over the past two years also recorded declines, with only five of the 22 companies listed during the period posting gains.
Biggest stock decliners over the past two years
Company
Listing Date
Decline
Nice One
January 2025
(71%)
Entaj
March 2025
(60%)
Build Station
September 2025
(60%)
Al Majdiah
September 2025
(56%)
UCIC
May 2025
(52%)
Arabian Mills
October 2024
(46%)
flynas
June 2025
(45%)
Tasheel
December 2024
(43%)
CGS
December 2025
(37%)
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, 2026.
The CMA said in a statement that the proposed project 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.
Tadawul trading screen
A survey by Argaam 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.
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.
SEDCO Capital IPO Fund was the worst-performing Saudi equity fund, declining by nearly 34%.
Performance of Saudi Equity Investment funds Investing in IPOs
Fund Name
Net Asset Value (SAR mln)
Two-Year Change*
SEDCO Capital IPO Fund
27.6
(34%)
Yaqeen IPO Fund
28.0
(29%)
Osool Bakheet IPO Trading Fund
3.0
(27%)
Alinma IPO Fund
68.7
(27%)
Osool Bakheet IPO Fund
28.8
(27%)
ANB Capital IPO Fund
171.6
(26%)
Value Capital IPO Fund
8.2
(26%)
BMK IPO Fund
2.0
(10%)
Most of the stocks listed over the past two years also recorded declines, with only five of the 22 companies listed during the period posting gains.
Biggest stock decliners over the past two years
Company
Listing Date
Decline
Nice One
January 2025
(71%)
Entaj
March 2025
(60%)
Build Station
September 2025
(60%)
Al Majdiah
September 2025
(56%)
UCIC
May 2025
(52%)
Arabian Mills
October 2024
(46%)
flynas
June 2025
(45%)
Tasheel
December 2024
(43%)
CGS
December 2025
(37%)
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, 2026.
The CMA said in a statement that the proposed project 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.
