Tadawul transforms into holding group ahead of IPO in 2021

Logo of Saudi Tadawul Group 

The Saudi Stock Exchange (Tadawul) announced today, April 7, 2021, its transformation into a holding group under the name of “Saudi Tadawul Group” ahead of the planned initial public offering (IPO) this year.

The group includes four subsidiaries: the Saudi Exchange, Securities Clearing Centre (Muqassa), Securities Depository Centre (Edaa) and Wamid.

"The transformation into the new structure under Saudi Tadawul Group will support the continued growth of the Saudi capital market and reinforce its position as a global market leader and advanced capital market,” said Sarah Al-Suhaimi, the group’s chairperson.

“Today, Tadawul ranks among the world’s 10 largest capital markets. As a capital market, we made many achievements,” Al-Suhaimi added.

Tadawul upgrade to Emerging Market status reflects the efforts made by the capital market in this regard. Tadawul aims to be a leading capital market among global peers.

"This is a significant achievement in our journey to transform Saudi Arabia's economy. Comprehensive capital market reforms are not only prudent but essential to ensuring higher economic growth, to achieving the nation-wide goal of the successful delivery of Saudi's Vision 2030, and to align with the strategy of the Public Investment Fund (PIF),” Al-Suhaimi added.

Tadawul Co. was established in 2007 with SAR 1.2 billion capital, divided into 120 million shares, which are 100% owned by the Public Investment Fund (PIF).

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