9. Saudi Electricity Company (SEC)

Country: Saudi Arabia
Sector: Utilities
CEO: Khaled AlGnoon
Market Value: $21.5 billion
Sales: $20.1 billion
Profits: $2.7 billion
Assets: $133.5 billion

SEC is one of the region’s biggest utility companies, the main producer of electricity, and the sole owner of transmission and distribution networks throughout Saudi Arabia, serving around 11 million customers, with 314,784 GWh of total electricity sold in 2023. SEC signed a $3 billion international syndicated facility agreement with four banks in the region in 2023. In February 2024, the company issued a $2.2 billion dual-tranche international sukuk, which was listed on the London Stock Exchange.