Saudi Arabia's Tadawul increases size of its shares offered to retail investors in IPO
Saudi Tadawul Group, the owner and operator of the kingdom’s stock exchange, said it has increased the size of the offering for retail investors to 30 per cent, up from 10 per cent that were offered initially, as it seeks to increase the participation of individual investors.
The holding company plans to sell 36 million shares or 30 per cent of its 120 million issued share capital to the public, it said in a statement earlier this week.
“Our aim is to provide an adequate opportunity to all type of investors in the Saudi equity market to participate in the offering," Khalid Al Hussan, chief executive of Saudi Tadawul Group, said.
"Individual investors’ demand has been high, as seen during recent IPOs in Saudi Arabia, and we wanted to seize this momentum to encourage diversity in our shareholding structure post listing."
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