Saudi Tadawul Group receives 10 offers from firms for IPO advice; advisor to be announced in 2 weeks: CEO

08/04/2021 Argaam

Logo of Saudi Tadawul Group

Saudi Tadawul Group received 10 offers from local and international institutions to become financial advisor for its initial public offering (IPO), Reuters reported, citing Group CEO Khalid Al-Hussan.

 

Al-Hussan said that the financial advisor for the offering will be announced within two weeks.

 

The Saudi Stock Exchange (Tadawul) announced, on April 7, 2021, its transformation into a holding group under the name of “Saudi Tadawul Group” ahead of the planned IPO this year.

 

Tadawul was established in 2007, with a current capital of SAR 1.2 billion, divided into 120 million shares, totally owned by the Public Investment Fund (PIF).

 

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