Saudi Tadawul to Hire Banks for IPO of Biggest Arab Bourse
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Saudi Arabia’s stock exchange plans to sell shares in an initial public offering as the Arab world’s largest bourse seeks to gradually open up to foreigners and boost institutional investment.
Tadawul, as the gauge is known, will hire advisers soon for the share sale, Chief Executive Officer Adel Al Ghamdi said at a conference in Riyadh today. That would make it the second market in the Gulf Cooperation Council to go public after Dubai’s.