#Saudi Wealth Fund Is Said to Plan IPO of Traffic Monitoring Firm - Bloomberg

Saudi Wealth Fund Is Said to Plan IPO of Traffic Monitoring Firm - Bloomberg:

Saudi Arabia’s sovereign wealth fund is weighing an initial public offering of the kingdom’s traffic-management firm, according to people familiar with the matter. 


Tahakom Comprehensive is working with Saudi Fransi Capital on the possible sale of a 30% stake, the people said, asking not to be identified as the information is private. The company, which operates the traffic-monitoring system Saher, is ultimately owned by the Public Investment Fund.

The shares would list on the kingdom’s Tadawul stock exchange, the people said. A final decision hasn’t been made, and the parties may decide not to proceed with the sale or offer a different amount to the public, they said.