The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site. Please see our Subscription Terms and Conditions.

All material subject to strictly enforced copyright laws. © 2022 Euromoney, a part of the Euromoney Institutional Investor PLC.

Prince Alwaleed bin Talal reveals shortlisted banks for Kingdom Holding Company IPO

Billionaire prince intends listing, scheduled for Q4 2006, to change the rules for foreign investment in the Saudi stock market. Peter Lee reports from Riyadh.

Prince Alwaleed bin Talal, the iconic Saudi billionaire who owns big stakes in many Saudi and internationally famous companies – among them Citigroup, News Corp, Saks, Four Seasons, Amazon, eBay and EuroDisney – is planning an international public offering of Kingdom Holding Company (KHC).

In an exclusive interview with Euromoney in Riyadh this weekend, Alwaleed revealed his plans for the IPO, which will take place in October or November this year.

The aim of the flotation is to boost interest and confidence in the Saudi stock market, which fell dramatically last month. In particular, Alwaleed wants the Saudi regulators to open up the local market to allow overseas institutional investors to participate in the IPO and then other listed securities.

Samba will be lead local bank for the deal. Alwaleed has invited five international investment banks to make presentations – JP Morgan, Lehman Brothers, Citigroup, Deutsche Bank and Morgan Stanley. This already short list will be further whittled down perhaps as soon as by Wednesday April 5. He is deep in discussions with the Capital Markets Authority, the stock market regulator.

They have a lot to talk about because this will be no ordinary deal.

You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.


Unlimited access to and

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually


Unlimited access to and, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors


Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree