UPDATE 1-Saudi Arabia approves IPO stock listings of government assets planned for privatisation - Reuters:
Saudi Arabia’s government approved in a virtual meeting on Tuesday listing government assets planned for privatisation in stock market TADAWUL after an initial public offering (IPO).
“Assets, sectors and services planned for privatisation shall be listed in Saudi stock market through direct or indirect initial public offering,” said a statement on state news agency SPA.
The privatisation drive is part of Vision 2030, a package of reforms led by Crown Prince Mohammed bin Salman that is intended to wean the economy off oil and create jobs for young Saudis.
Riyadh has struggled over the past few years to attract large investor interest for a slate of planned privatisations aimed at diversity of its oil-driven economy.
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