Commentary Saudi Arabia

Top 10 Companies in Saudi Arabia by Market Cap

Market capitalisation is the market value of a publicly traded company’s outstanding shares. Here are the top 10 companies in Saudi Arabia according to their market capitalisation.

1. Saudi Basic Industries

Market Capitalisation: $45.1 Billion

Saudi Basic Industries (SABIC) is a Saudi diversified manufacturing company, active in petrochemicals, chemicals, industrial polymers, fertilizers, and metals. It is the largest public company in the Middle East and Saudi Arabia as listed in Tadawul. 70% of SABIC’s shares are owned by Saudi Aramco. Private shareholders are from Saudi Arabia and other countries of the six-nation Gulf Cooperation Council (GCC). 

It is currently the second-largest global ethylene glycol producer and is expected to top the list after the introduction of new projects. SABIC is the third-largest polyethylene manufacturer, the fourth-largest polyolefins manufacturer, and the fourth-largest polypropylene manufacturer. SABIC is also the world’s largest producer of methyl tert-butyl ether, granular urea, polycarbonate, polyphenylene and polyether imide.

2. Saudi Electricity Company

Market Capitalisation: $17.1 Billion

Saudi Electricity Company (SEC) is a Saudi electric utility company. It enjoys a monopoly on the generation, transmission and distribution of electric power in Saudi Arabia through 45 power generation plants in the country.

The company was formed in 2000 by Order of the Council of Ministers through a merger of existing regional electricity companies in the Central, Eastern, Western and Southern regions into a single joint stock company. SEC plans to expand its power generation capacity from 60 GW to 91 GW by 2020 and more than double the existing capacity over the long term to meet demand.

3. Saudi Telecom Company

Market Capitalisation: $13.9 Billion

Saudi Telecom Company, is a Saudi Arabia-based telecommunications company that offers landline, mobile, Internet services and computer networks.The subscriber service of mobile is about 81% of the total Saudi Telecom subscribers who are contributing about 73% of the company’s total revenue.

4. Petro Rabigh

Market Capitalisation: $10.9 Billion

Rabigh Refining & Petrochemical Company (Petro Rabigh) is a Saudi Arabia-based company which produces and markets refined hydrocarbon and petrochemicals. The company was a joint venture between Saudi Aramco and Japan’s Sumitomo Chemical which is now publicly held. It is traded on the Saudi Stock Exchange. Petro Rabigh operates a 400,000-barrel (64,000 m3) capacity refinery located in Rabigh, Saudi Arabia, which produces naphtha, kerosene, gasoline, diesel and fuel oil.

5. National Commercial Bank

Market Capitalisation: $6.3 Billion

The National Commercial Bank (NCB) also known as AlAhli Bank is a Saudi Arabian bank. The institute is the largest bank by total assets in Saudi Arabia, the second largest by market capitalization, and it’s one of the largest Islamic banks in the world in terms of assets. NCB practices Islamic banking and finance. The Bank was constituted as a General Partnership from its founding in 1953 until 1 July 1997 when it was reconstituted as a Joint Stock Company.

6. Al-Rajhi Bank

Market Capitalisation: $4.8 Billion

The Al Rajhi Bank (previously known as Al Rajhi Banking and Investment Corporation) is a Saudi Arabian bank. The bank is a major investor in Saudi Arabia’s business and is one of the largest joint stock companies in the Kingdom, with over SR 330.5 billion in AUM ($88 billion) and over 600 branches. Its head office is located in Riyadh, with six regional offices. Al Rajhi Bank also has branches in Kuwait and Jordan, and a subsidiary in Malaysia and Syria.

7. Ma’aden

Market Capitalisation: $3.8 Billion

Ma’aden (Saudi Arabian Mining Co.) is a diversified mining company, active in gold, base metals, mining and infrastructure industry. Ma’aden was formed as a Saudi joint stock company on 23 March 1997 for the purpose of facilitating the development of Saudi Arabia’s mineral resources. It is the largest mining company in Saudi Arabia. The Saudi government still owns 50% of its shares while the remaining 50% are listed in Tadawul (Stock Market). The company is structured with corporate headquarters in Riyadh with several subsidiaries

8. Almarai

Market Capitalisation: $3.7 Billion

Almarai Company is a Saudi-based conglomerate, listed on the Tadawul stock exchange. It specializes in food and beverage manufacturing and distribution. The company’s main offices are located in Riyadh, Saudi Arabia.

According to Almarai literature, the dairy company – founded by Irish Agri Pioneers Alastair and Paddy McGuckian – began with 350 cows, before expanding its operations dramatically over the past three decades. The company is now responsible for more than 200,000 cows globally and is the world’s largest vertically integrated dairy company.

9. Riyad Bank

Market Capitalisation: $2.7 Billion

Riyad Bank is one of the largest financial institutions in Saudi Arabia, ranked fourth in assets It was established in 1957. The Saudi government owns 51% of the shares of the firm.

As other Saudi commercial banks, Riyad Bank is supervised by the Saudi Arabian Monetary Authority.t operates in four primary financial services sectors including Personal Banking, Corporate Banking, Treasury, and International Banking.

The main activity of the Bank is to provide a full portfolio of banking and investment services for its customers and for its own account, both in the Kingdom of Saudi Arabia and abroad, by offering a comprehensive range of banking and related services for retail and corporate customers as well as financing all types of trade and industrial projects and activities.

10. Samba Financial Group

Market Capitalisation: $2.5 Billion 

Samba Financial Group SJSC (formerly known as The Saudi American Bank), is a large banking firm in Saudi Arabia. The combined institution had 66 branches in the Kingdom. Its international operations consist of a branch each in London, Qatar and Dubai, as well as a subsidiary that has 40 branches across major cities in Pakistan. The company dates back to 1955. After a partial nationalization program by the Saudi government, Citibank owned a 40% stake in the company in 1980, but sold its remaining interest in 2004.

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