Tadawul listing after 2021 highlights Saudi IPO resurgence

Tadawul listing after 2021 highlights Saudi IPO resurgence

Tadawul listing after 2021 highlights Saudi IPO resurgence

Tadawul listing after 2021 highlights Saudi IPO resurgence

Khalid Abdullah Al-Hussan, CEO and board member of Tadawul, confirmed the long-awaited share sale will take place after 2021, depending on the progress of initial preparations. (Screenshot/Supplied)

Short Url

Tadawul listing after 2021 highlights Saudi IPO resurgence

Kingdom's capital market set for ambitious year after pandemic 'test'

Updated 12 December 2020

Follow @arabnews

RIYADH: Tadawul, the Saudi stock exchange, next year will start laying the groundwork for its own initial public offering (IPO), with the launch expected some time after 2021, but it is unlikely to be the only big listing as the Kingdom evolves to become a big player on the global capital market. 

Khalid Abdullah Al-Hussan, CEO and board member of Tadawul, confirmed the long-awaited share sale will take place after 2021, depending on the progress of initial preparations.

Speaking at a webinar organized by Bloomberg, Al-Hussan said 2020 had been "an exceptional year,“ but he believed "the market reacted proactively“ to the impact of the coronavirus (COVID-19) pandemic.

As an example of the bourse's resilience, he pointed to the fact that Tadawul, which was established in 2007 and is 100 percent owned by the Public Investment Fund (PIF), in August launched the