Saudi Tadawul Group hires advisers for IPO

SourceThe National
SectorFinancial Markets
CountrySaudi Arabia

Saudi Tadawul Group, the recently formed holding company which operates the country’s bourse, said it appointed NCB Capital, JP Morgan and Citigroup to advise on its initial public offering.

“The IPO will provide an important strategic dimension to realise the group’s expansion plans, strengthen its position globally and align its growth objectives with the Public Investment Fund’s strategy to boost the economic transformation of Saudi Arabia,” the company said in a statement on Wednesday.

Saudi Tadawul Group confirmed plans to list on the kingdom’s main market later this year as it unveiled changes to its corporate structure earlier this month.

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