Saudi Tadawul Group, the kingdom's stock exchange operator, has set an indicative price range for its initial public offering which shows it could raise up to 3.78 billion riyals ($1.01 billion) in the deal.
DUBAI (Reuters) -Saudi Tadawul Group, the kingdom's stock exchange operator, has set an indicative price range for its initial public offering which s.
DUBAI The trading system of Saudi Arabia’s Tadawul securities market resumed operations on Wednesday after trading was suspended in the morning for less than…
2 minute read
Saudi woman walks at the Saudi stock market (Tadawul), in Riyadh, Saudi Arabia March 9, 2020. REUTERS/Ahmed Yosri
Saudi Tadawul Group, the owner and operator of the country s stock market, said on Wednesday it appointed JP Morgan, (JPM.N) Citigroup (C.N) and the securities arm of Saudi National Bank (1180.SE) for its initial public offering.
Tadawul said the public share sale will allow it to expand and strengthen its position globally. The deal is part of efforts by Saudi Arabia to diversify its economy.
With a market capitalisation of $2.5 trillion, Tadawul is the Arab worldâs largest stock exchange.
×
ARCADIA, CALIFORNIA - JUNE 08: A peafowl walks across a residential street on June 8, 2021 in Arcadia, California. Mario Tama/Getty Images/AFP
1/4
A surfer rides a wave at Maroubra beach in Sydney on June 9, 2021. (Photo by Saeed KHAN / AFP)
2/4
Vials of the Johnson & Johnson vaccine move on a conveyor belt at ASPEN Pharmaceuticals in Port Elizabeth, South Africa, Monday, March 29, 2021. (AP Photo)
3/4
A man wearing a face mask walks past an advertisement in Seoul, South Korea, 09 June 2021. EPA/JEON HEON-KYUN
4/4
ARCADIA, CALIFORNIA - JUNE 08: A peafowl walks across a residential street on June 8, 2021 in Arcadia, California. Mario Tama/Getty Images/AFP