Lock-up period for PIF in Saudi Tadawul Group ends today

Logo of the Public Investment Fund 

The lock-up period imposed on the shares of the Public Investment Fund (PIF) in Saudi Tadawul Group Holding Co. will end by the close of trading today, June 7.  

The six-month restriction period was imposed when the company listed on Dec. 8, 2021.

A lock-up period was imposed on the PIF’s 84 million shares, which account for 70% of the company’s capital.

The Kingdom’s sovereign wealth fund may now dispose of its shares without obtaining a prior approval from the Capital Market Authority (CMA).

Saudi Tadawul Group offered 36 million shares to the public, 70% of which were allocated to institutional investors. The remaining 30%, or 10.8 million shares of the offer shares, were allocated to retail investors at SAR 105 each.