The Saudi Stock Exchange (Tadawul) is planning to complete its own share sale within the next 24 months, chief executive officer Khalid Al Hussan told Bloomberg.
As many as 10 companies are planning initial public offerings (IPOs) on Tadawul, he said, adding that it would be one of the best IPO years if all the applications get listed this year.
The exchange will introduce derivatives trading next month to attract more foreign investors by providing them with products to hedge their exposure to local stocks, the CEO noted.
In September 2019, Tadawul announced that the date of its IPO would be decided following the implementation of major legislative and operating amendments in the capital market.
The Kingdom’s stock exchange was established in 2007 with a capital of SAR 1.2 billion, divided into 120 million shares wholly-owned by the Public Investment Fund (PIF).
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