Exclusive: Saudi Arabia’s Tadawul open to stake sale to international exchanges - The National

Exclusive: Saudi Arabia’s Tadawul open to stake sale to international exchanges - The National:

"The Saudi Stock Exchange (Tadawul), the Arab world’s biggest bourse, is open to selling a stake to an international exchange, a move it would consider based on the added value to the US$440 billion bourse, its chief executive said. “The exchange won’t take this step unless it is 100 per cent value added to Tadawul,” Khalid Al Hussan told The National in Riyadh. “We believe that we are big as far as this region [is concerned], most liquid, so if we are going to add the element of an exchange to our exchange, it should be a clear added value and just not because we need to attach our name to a big exchange.” Tadawul is home to one of the world’s top petrochemical’s producers, Saudi Basic Industries Corporation (Sabic), and the kingdom’s financial sector heavyweights such as Al Rajhi Bank and National Commercial Bank. It is preparing to host Saudi Aramco next year on its trading platform, when the state-controlled oil producer sells shares to the public in what is slated to be the biggest IPO in the history."



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