Saudi stock market to hire investment bank for flotation | The National:
"The Saudi Stock Exchange is in the process of hiring an investment bank to advise on its flotation, the bourse, known as Tadawul, said on Sunday.
Saudi Arabia is expected to privatise and float a number of state-owned assets in the next few years, part of efforts to raise cash to help bridge a budget shortfall caused by lower oil prices. The aim is also to improve the efficiency of the economy by the reform of state companies and by bringing in professional investors.
Among them is Tadawul, which said in December it planned to list its shares in 2018."
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