Tadawul, the Saudi Stock Exchange, has announced a corporate restructuring ahead of an IPO that should take place later this year, with financial advisers and bookrunners set to be announced by the end of the month.
Khalid Al-Hussan, CEO of Saudi Tadawul Group, tells Euromoney on Thursday: “This is the right time do deliver an IPO as our next milestone.”
Tadawul will move to a holding group structure with four subsidiaries: Saudi Exchange, which will be a dedicated stock exchange company; Wamid, an applied technology solutions company; Muqassa, a securities clearing company, and Edaa, a securities depository.
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