Saudi Arabia’s bourse, Tadawul, has invited banks to pitch for roles in its highly-anticipated flotation, three sources told Reuters on Wednesday.
With a market capitalisation of $2.5 trillion, Tadawul is the Arab world’s largest stock exchange.
Tadawul hired HSBC in 2016 to manage an initial public offering (IPO) initially planned for 2018 but put that on hold due to oil giant Saudi Aramco’s record $29.4 billion listing at the end of 2019.
A request for proposals (RFP) was sent to a number of international and local banks to determine their roles for the bourse’s upcoming share offering, said the sources, declining to be named as the matter is not public.
No comments:
Post a Comment