The Saudi Stock Exchange (Tadawul) Announces Its Transformation into A Holding Company (Saudi Tadawul Group) In Preparation for IPO
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RIYADH, Saudi Arabia, April 7, 2021 /PRNewswire/
The Saudi Stock Exchange (Tadawul) Announces Its Transformation into A Holding Company (Saudi Tadawul Group) In Preparation for IPO
Four subsidiaries under the umbrella of the new Group, focused on growth and innovation
The launch of (Saudi Exchange) a dedicated stock exchange company, and (Wamid), an applied technology solutions company aimed at strengthening the Group s capabilities in technology and innovation-based services and solutions
The transformation will reinforce Saudi Tadawul Group s position as an attractive investment destination for investors and the issuers exchange of choice
Saudi Tadawul becomes holding group; first step towards IPO
RIYADH, 5 hours, 4 minutes ago The Saudi Stock Exchange (Tadawul) has announced its transformation into a holding group structure and reinforcing its capabilities in technology innovation by launching a dedicated applied technology solutions company, Wamid. This transformation marks a new chapter in the group s history and signals its readiness for the IPO in 2021. Announcing the launch of Saudi Tadawul Group today (April 7), the Saudi bourse said it will become the parent company with a portfolio of four subsidiaries: Saudi Exchange, a dedicated bourse business (previously known as the Saudi Stock Exchange Company - Tadawul), the Securities Clearing Center Company (Muqassa), the Securities Depository Center Company (Edaa) and Wamid – a new innovative applied technology services business, focused on providing innovation and nascent technologies within the Saudi economy through pragmatic innovation.
Archyde
April 7, 2021 by archyde
Company announced The Saudi Stock Exchange “Tadawul” Its transformation into a holding group under the name of “Tadawul Group” that includes under its umbrella 4 companies: “Tadawul”, “Clearing House”, “Deposit” and “Wamda”.
The Chairman of the Board of Directors of the Saudi Tadawul Group, Sarah Al-Suhaimi, confirmed in a virtual press conference to launch the new structure that this step comes to prepare the group for the initial public offering during the current year in addition to strengthening the position of the Saudi market on the global stage and raising its contribution to the local economy in line with Vision 2030.
Saudi Stock Exchange restructures into Saudi Tadawul Group April 07, 2021
The Saudi Stock Exchange (Tadawul) Announces Its Transformation into A Holding Company (Saudi Tadawul Group) In Preparation for IPO
RIYADH The Saudi Stock Exchange (Tadawul) Wednesday announced its transformation into a holding group structure and reinforcing its capabilities in technology innovation by launching a dedicated applied technology solutions company, Wamid.
This transformation marks a new chapter in the Group s history and signals its readiness for the IPO in 2021. Tadawul announced the launch of a holding company, the Saudi Tadawul Group, which will become the parent company with a portfolio of four subsidiaries.
Saudi Bourse Restructures Itself With Eye on IPO in Second Half
Bloomberg 4 hrs ago
(Bloomberg)
Saudi Arabia’s stock exchange, the largest in the Middle East, is changing its corporate structure as it prepares for a highly anticipated initial public offering this year.
The newly created Saudi Tadawul Group will have four subsidiaries, comprising the exchange, a clearing center, a depository company and a technology-services business. Exchange officials said the changes create the platform to strengthen the underlying infrastructure for the growth of the nation’s $2.5 trillion stock market, the world’s 10th biggest.
“We are the largest exchange in the region by far and one of the top 10 in the world by market capitalization, and we are very liquid,” Sarah Al-Suhaimi, who will chair the new group, said in an interview. “we are also very profitable.”