Argaam: Several Saudi Stocks Hit Lowest Prices Since IPO on Wednesday

Several stocks and funds listed on the Saudi Exchange (Tadawul) reached their lowest price levels since their respective initial public offerings during the trading session on Wednesday. Financial data provider Argaam reported that the decline affected diverse assets, including retail, finance, and real estate investment trusts.

Assets hitting record lows

The market activity on Wednesday saw three specific securities hit new lows since their listing dates. According to Argaam, the list includes the following companies and funds:

• Tasheel: Recorded a session low of 26.38 SAR. The stock has seen a 51% performance decline over the past year and was listed in December 2024.
• SACO: Reached a low of 17.00 SAR. Listed in May 2015, the company has experienced a 42% decline over the trailing 12-month period.

These figures represent the lowest price touched during the trading session rather than the final closing price for the day. The data highlights a period of downward pressure on these specific equities within the broader Saudi market.

Tasheel and SACO face steep annual declines

The recorded lows reflect varying degrees of market pressure across different sectors. While Tasheel, a recent market entrant from late 2024, shows the steepest annual decline among the three at 51%, established companies like SACO continue to face significant valuation adjustments. SACO’s 42% annual decline marks a continued trend for the retailer, which has been publicly traded since May 2015.

Investors monitoring the Saudi Exchange often utilize these metrics to track long-term price discovery and the historical performance of listed securities against their IPO benchmarks.