Saudi bourse operator sets price range for up to $1 bln IPO
Saudi Tadawul said the final price for its offering will be determined after the completion of the book-building process, which begins on Sunday and ends on November 26.
The market capitalisation of companies listed on Tadawul is around $2.7 trillion, making the bourse the Arab world’s largest stock exchange. Saudi Arabia's stock exchange has converted itself into a holding company and will be renamed Saudi Tadawul Group ahead of the listing this year, Group Chief Executive Khalid al-Hussan said previously.
The group has four subsidiaries - its bourse Saudi Exchange, securities clearing and depository businesses and technology services. SNB Capital Co, JPMorgan Saudi Arabia and Citigroup Saudi Arabia are acting as financial Advisors, joint global coordiantors, underwriters and bookrunners.Reporting by Saeed Azhar; Editing by Michael PerrySubscribe for our daily curated newsletter to receive the latest exclusive Reuters coverage delivered to your inbox.
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