Wadi Makkah plans Tadawul listing by 2021, says CEO

15/03/2017 Argaam

Wadi Makkah Co. is planning to list its shares on the Saudi Stock Exchange (Tadawul) by 2021, Al-Hayat newspaper reported on Wednesday, citing chief executive officer Faisal Al-Alaf.

 

The tech firm is looking to invest in up to 100 start-ups, grow its market capitalization to over SAR 100 million, and export its products.

 

Al-Alaf added that his firm has established several affiliates operating in information and communications technology (ICT), real estate, printing, facilitating entrepreneurships and consulting services.

 

In addition, as many as 11 start-up companies were launched for more than 23 technical products.

 

Osama Al-Omari, former CEO of Wadi Makkah, had earlier unveiled plans for an initial public offering (IPO) by mid-2017, Argaam earlier reported.

 

The Makkah-based firm was established in 2012 with SAR 100 million in capital. 

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