Saudi Arabia Targets Secondary Offerings as IPOs Boom: ECM Watch
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Saudi Arabia is taking steps to end the dearth of secondary offerings in the kingdom, which have failed to gain traction across the Persian Gulf even as initial public offerings boom.
On Wednesday the Capital Market Authority said it’s calling for a 30-day public consultation on a framework to regulate secondary offerings, which it said would allow shareholders to offload stakes, thereby boosting liquidity in the Gulf’s biggest market.