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Tadawul looks to raise $1bn from its IPO

The Saudi index fell 0.1 percent on Sunday (April 3, 2022), affected by a 1.1 percent decline in the share of the National Commercial Bank and 1.5 percent of Riyad Bank.
By TRENDS Desk
November 21, 2021 5:19 pm
  • Tadawul appointed SNB Capital as the lead manager, financial advisor, book-runner, Global Coordinator and underwriter for the initial public offering
  • while J.P. Morgan Saudi Arabia, and Citigroup Saudi Arabia were appointed as financial advisors on the offering of 36 million shares of Saudi Tadawul Group Holding Co

Tadawul is looking to raise up to $1 billion from its initial public offering (IPO), after setting the price range per share between SR95 and SR105.

Tadawul appointed SNB Capital as the lead manager, financial advisor, book-runner, Global Coordinator and underwriter for the initial public offering, while J.P. Morgan Saudi Arabia, and Citigroup Saudi Arabia were appointed as financial advisors, book-runners, global coordinators and underwriters on the offering of 36 million shares of Saudi Tadawul Group Holding Co., it said in a filing today.

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