Saudi wealth fund plans to sell 10% stake in stock exchange Saudi wealth fund plans to sell 10% stake in stock exchange
Now Reading
Saudi wealth fund plans to sell 10% stake in stock exchange

Saudi wealth fund plans to sell 10% stake in stock exchange

The offering comes almost a year after the stock exchange went public in a $1bn initial public offering

Avatar
ASI index laincehd by Tadawul GettyImages-1057624978-e1636003123118

Saudi Arabia’s Public Investment Fund is selling a 10 per cent stake in the kingdom’s stock exchange in a secondary offering, according to a statement on Thursday.

The PIF is selling 12 million shares in Saudi Tadawul Group Holding, worth about $655m, according to the terms of the deal. The offering comes almost a year after the stock exchange went public in a $1bn initial public offering. Its stock has almost doubled since.

HSBC Holdings and Morgan Stanley are joint global coordinators for the sale.

The price will be determined through an accelerated book building process, which will start immediately, and the results of the offering will be announced on November 11.

© 2021 MOTIVATE MEDIA GROUP. ALL RIGHTS RESERVED.

Scroll To Top