By: Aseel bin Taleb

Riyadh – Mubasher: Khalid Al-Hussan, CEO of the Saudi Stock Exchange (Tadawul), on Tuesday said that he will announce the financial advisor that will be in charge of the company’s initial public offering (IPO) and listing on the market within a few days.

Saudi Aramco’s IPO will prompt a major change in the Saudi market as it will be that largest IPO in the world, Al-Hussan said, speaking to reporters on the sidelines of the Euromoney conference in Riyadh.

Regarding the small-and-medium-sized enterprises (SMEs) market, Tadawul’s CEO noted that the market will have listing and disclosure regulations, which will be lesser than those of the main market.

Responding to Mubasher’s question on companies’ weights in the SME market, Al-Hussan revealed that this point is being arranged in collaboration with the Capital Market Authority (CMA) and will be announced soon.

This market will aim at financing SME projects and find methods to support them.

In April, Tadawul announced appointing a valuation advisor for its IPO and listing, which is expected to be completed in 2018.

Translated by: Nada Adel Sobhi