Saudi Stock Exchange Seeks to Raise Up to $1 Billion in IPO
- Tadawul to offer 36 million shares, or 30% stake to investors
- Trading in exchange shares expected to start in December
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Saudi Arabia is keeping the home fires burning for regional public offerings, readying what could be the biggest sale of shares by a stock-exchange operator since Euronext NV.
Saudi Tadawul Group Holding is seeking to raise as much as $1 billion after setting the price range for an initial public offering at 95 riyals ($25.32) to 105 riyals per share, the company said Sunday. The Riyadh-based bourse, on which oil giant Saudi Aramco trades, plans to sell a 30% stake, or 36 million shares.