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.
Immediate intention is to sell existing shares Sees healthy IPO pipeline including interest from Gulf companies (Adds detail on advisory roles, minimum float)
DUBAI, April 7 (Reuters) - Saudi Arabia’s stock exchange has converted itself into a holding company and will be renamed Saudi Tadawul Group ahead of its initial public offering (IPO) this year, Group CEO Khalid al-Hussan said on Wednesday.
Tadawul has received proposals from 10 local and international firms on potential advisory roles for its upcoming IPO and a decision on role or roles will be announced in two weeks, al-Hussan said.
Saudi Tadawul Group will have four subsidiaries: Saudi Exchange, its stock exchange business unit, Securities Clearing Center Company (Muqassa), the Securities Depository Center Company (Edaa), and innovation unit Wamid.
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.
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DUBAI (Reuters) - Saudi Arabia’s stock exchange has converted itself into a holding company and will be renamed Saudi Tadawul Group ahead of its initial public offering (IPO) this year, Group CEO Khalid al-Hussan said on Wednesday.
FILE PHOTO: Saudi woman walks at the Saudi stock market (Tadawul), in Riyadh, Saudi Arabia March 9, 2020. REUTERS/Ahmed Yosri/File Photo
Tadawul has received proposals from 10 local and international firms on potential advisory roles for its upcoming IPO and a decision on role or roles will be announced in two weeks, al-Hussan said.
Saudi Tadawul Group will have four subsidiaries: Saudi Exchange, its stock exchange business unit, Securities Clearing Center Company (Muqassa), the Securities Depository Center Company (Edaa), and innovation unit Wamid.
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