Deals
Riyad Bank Weighs IPO of Investment Banking Unit in Saudi Arabia
The Kingdom Tower, operated by Kingdom Holding Co., centre, stands on the skyline above the King Fahd highway in Riyadh, Saudi Arabia
Photographer: Simon Dawson/BloombergThis article is for subscribers only.
Riyad Bank is considering selling shares in its investment banking arm, joining a steady stream of companies tapping Saudi Arabia’s equity market amid strong demand for IPOs across the Gulf.
The kingdom’s third-largest lender started assessing and preparing for a possible initial public offering of Riyad Capital, according to a company filing.