Business News

Saudi stock market regulator’s IPO could be one to watch out for in 2021


Dubai: Watch out for an IPO in Saudi Arabia this year… from its stock market regulator.

The Saudi Stock Exchange (Tadawul) will be transitioning into a holding group structure, which “signals its readiness for the IPO in 2021”. The new entity will be known as the Saudi Tadawul Group, and feature four subsidiaries.

These are the Saudi Exchange, the Securities Clearing Center Company (Muqassa), the Securities Depository Center Company (Edaa) and Wamid, which is a newly created a tech-focussed entity.

Sarah Al-Suhaimi, current Chairperson of Tadawul’s board of directors, will be Chairperson of Saudi Tadawul Group, andKhalid Al-Hussan will be the CEO. “Comprehensive capital market reforms are not only prudent, but essential to ensuring higher economic growth, and achieving the nation-wide goal of the successful delivery of Saudi’s Vision 2030 and aligned with the strategy of the Public Investment Fund (PIF),” said Al-Suhaimi in a statement.

With the new holding company, the group expects to benefit from the “integration and synergies” between the subsidiaries. “The operational independence of each subsidiary will create an agile environment supporting rapid responses to evolving market trends,” the statement added.


Source link

amazon nestle offer Amazon.ae

Related Articles

Leave a Reply

Back to top button