Saudi Arabia’s Capital Markets Authority said on Wednesday it has approved an initial public offering of Saudi Tadawul Group, the Kingdom’s stock exchange.
The market regulator said it approved an application for an offering of 36 million shares, which represents 30% of Tadawul’s share capital.
Saudi Tadawul Group, the owner and operator of the bourse, in April said it hired JP Morgan, Citigroup and the securities arm of Saudi National Bank for its public share-sale.
