India freezes digital assets WazirX, linked with Binance The developers of Shiba Inu have announced a new mobile game Binance received a subpoena over Elon Musk's refusal to buy Twitter The New York authorities fined the crypto platform Robinhood for $30 million North Korean hackers forge CVs to join U.S. crypto companies A new unknown investor bought bitcoins for $3 billion Binance employee claims loss of 90% of customers and billion dollars in revenue MetaMask users face a phishing attack Unknown hacked almost 8 thousands crypto wallets on Solana

Saudi Stock Exchange seeks to raise as much as $1 billion in IPO

Saudi Stock Exchange seeks to raise as much as $1 billion in IPO

Saudi Tadawul Group, the regulator of the Saudi Stock Exchange, plans to hold its IPO in December 2021, placing nearly 30 percent of its stock. 

The company seeks to raise up to $1 bln by selling 36 million shares.  The listing plans were known back in the spring, but the share price was revealed only on Sunday, November 21. The initial sales range will be from $25 to $28 per share.

The former Saudi Arabian Stock Exchange, which has been converted into a holding company called Saudi Tadawul Group, ranks first by market capitalization of all companies listed on it in the Arab world (and 11th worldwide). The company holds the record for the world's largest IPO, raising $29.4 billion through listing Saudi Aramco oil company. The market capitalization of all companies listed on this exchange amounts to $2.7 trillion.

The exchange's last major IPO was in 2014 with a Euronext listing, raising $1.2 billion.

0
Is there an error in the article?
To report