Saudi business tycoon Prince Alwaleed bin Talal is the No1 shareholder in Saudi Stock Market, owning shares worth about SR47.4 billion ($12.6 billion), according to data from the Saudi Arabia’s Stock Exchange (Tadawul).

About 94 per cent of Prince Alwaleed’s shareholdings are mainly held by his Kingdom Holding Company in companies such as Samba, Safola and Saudi Research Company, according to a Gulf News report.

Tadawul began to display top shareholders of its listed companies in line with its initiatives to bring discipline and streamline dealing. Tadawul screens and its website will display names of shareholders who hold atleast five per cent stake in any listed company.

The data revealed that the major shareholders held most of their stake in the petrochemical and banking sectors.

Most of the shareholders could not sell their shares as they were under the Saudi stock market ban which prevents owners of new companies from selling their shares till they complete two years of operations. Trading of these companies is expected to go up once they finish the ban period.