Riyad Bank teams up with JPMorgan for Riyad Capital IPO: Report
Logo of Riyad Capital
Riyad Bank is collaborating with JPMorgan for a potential initial public offering (IPO) of the former's wholly owned subsidiary Riyad Capital on Saudi Arabia's Main Market (TASI), Bloomberg reported, citing sources familiar with the matter.
The offering could take place as soon as mid-2025, with an estimated valuation of approximately $2.5 billion (SAR 9.4 billion).
While discussions are ongoing, specifics regarding the offering’s size and timeline remain unconfirmed.
In April 2024, Riyad Bank’s board of directors approved to start assessment and preparation of a possible IPO of Riyad Capital on TASI, according to data available with Argaam.
Riyad Capital was founded in 2008 as a closed joint-stock company with SAR 500 million in capital.
The company specializes in a range of financial activities, including trading as principal and agent, underwriting, as well as establishing and managing funds and investment portfolios. This is in addition to providing advisory and securities custody services, as well as managing portfolios and facilitating trading.
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