Considering how the market value of businesses on the international stock market fluctuates, Aramco topped the Kingdom’s market scene at the end of July 2024, closing at a valuation of $100.799 billion.
The Highest Market Value: Top Ten Saudi Corporations
Top-ranked among Saudi corporations and global oil firms, Aramco has a market capitalisation of more than $100 billion. The businesses received rankings as follows:
Aramco:
Leading the pack with $100.799 billion as of July 2024, when shares were closed, placing Aramco as the Saudi company with the largest market value.
Al Rajhi Bank:
Al Rajhi Investment Banking Company, with a valuation of $90.74 billion, came in second in the ranking. Founded in 1957, Al Rajhi has a reputation for adhering to Islamic Sharia law in banking operations.
ACWA Power:
It is a $76.27 billion market capitalisation corporation that specialises in renewable and alternative energy sources.
Saudi SABIC:
It attained a market valuation of $63.17 billion. Aramco owns the bulk of the shares in this chemical sector company.
The National Bank of Saudi Arabia:
It attained a market valuation of $59.27 billion. Its main offices are located in Jeddah and Al-Khobar. Its branches vary throughout the Kingdom, while its international branch operates in London.
Saudi Telecom Company (STC):
It attained a market valuation of $51.69 billion.
Saudi Arabian Mining Company “Maaden”:
Founded in 1997, it currently holds the top spot with a $43.03 billion market valuation.
Dr. Sulaiman Al Habib Medical Services Group:
With a market value of $26.93 billion, this 1993-founded company has branches throughout the Kingdom, the Emirates, and Bahrain.
Riyad Bank:
Founded in 1957, it is the Kingdom’s largest financial institution, with a current market capitalisation of $21.95 billion.
Alinma Bank:
Headquartered in Riyadh. Began operations in the Saudi market in 2008, with a market valuation of $21.49 billion.
We would appreciate hearing your thoughts after this brief overview of the leading Saudi companies on the stock market, as well as any future investing ideas you may have and whether you found this information helpful.
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