The Saudi Stock Exchange (Tadawul) will launch its initial public offering (IPO) after 2021, but it depends on the company’s preparations, CEO Khalid Al-Hussan said in a webinar organized by Bloomberg.
Several factors postponed the share sale, Al-Hussan explained, noting that Tadawul will start bracing for the IPO in 2021 and the share sale will take place very soon following the end of 2021.
Moreover, Al-Hussan revealed that one Gulf firm at least showed interest in listing its shares in the Saudi market for the first time, backed by the market strong liquidity and regulations.
Tadawul was established in 2007 with SAR 1.2 billion capital, divided into 120 million shares. The company is 100% owned by the Public Investment Fund (PIF).