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Saudi Tadawul Group hires advisers for IPO

An exact date and the size of the stake being floated will be revealed at a later date. Exchange bosses have also yet to confirm whether the listing will be open to foreign investors. Tadawul, which is among the top 10 global stock markets with a market capitalisation of $2.6 trillion, will become only the third publicly-traded regional stock exchange after the Dubai Financial Market and Boursa Kuwait. The PIF is the sole shareholder of Saudi Tadawul Group, which has four subsidiaries. These include the Saudi Exchange, a dedicated arm running the kingdom s equity market previously known as the Saudi Stock Exchange Company; the Securities Clearing Centre Company (known as Muqassa); the Securities Depository Centre Company (Edaa); and a new subsidiary focused on applied technology services known as Wamid.

Saudi stock market regulator s IPO could be one to watch out for in 2021

Sarah Al-Suhaimi, current Chairperson of Tadawul s board of directors, will be Chairperson of Saudi Tadawul Group, andKhalid Al-Hussan will be the CEO. “Comprehensive capital market reforms are not only prudent, but essential to ensuring higher economic growth, and achieving the nation-wide goal of the successful delivery of Saudi s Vision 2030 and aligned with the strategy of the Public Investment Fund (PIF), said Al-Suhaimi in a statement. With the new holding company, the group expects to benefit from the “integration and synergies” between the subsidiaries. “The operational independence of each subsidiary will create an agile environment supporting rapid responses to evolving market trends,” the statement added.

The Saudi Stock Exchange (Tadawul) Announces Its Transformation into A Holding Company (Saudi Tadawul Group) In Preparation for IPO

The Saudi Stock Exchange (Tadawul) Announces Its Transformation into A Holding Company (Saudi Tadawul Group) In Preparation for IPO USA - English Share this article 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

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