UPDATE 1-Saudi's NCB Capital advises finance duo on potential IPOs -sources | Reuters:
NCB Capital, the investment banking unit of Saudi Arabia’s largest lender, is advising two local finance companies, Amlak International for Real Estate Finance and Nayifat Finance, on possible share listings, sources familiar with the matter said.
The kingdom is encouraging more companies to list on the stock market in an effort to deepen capital markets under an economic reform push aimed at reducing the reliance on oil revenue.
Both Amlak and Nayifat operate within sectors the government is keen to develop.
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