Saudi Fransi Capital, the investment arm of the Kingdom’s fourth biggest bank Banque Saudi Fransi, is working to arrange five initial public offerings (IPOs), three of which exceed SAR 1 billion (SAR 266.7 million) each, said Chief Executive Yasir Al Rumayyan.
He added that the three IPOs will take place until the end of 2015.
Saudi Arabia’s $550 billion stock market saw just five IPOs in 2013 worth a total of around $506 million, down in both volume and value from the previous year.
However, volume and value are set to grow this year, as the market regulator encourages listing of companies which it believes contribute to economic growth.
“We have an excellent deals in pipeline. We think we will see one IPO every quarter from Saudi Fransi Capital for the coming five quarters,” Al-Rumayyan said.
“I have a bigger list than this one. We have another IPO in the steel sector, and one in building materials.”
The National Commercial Bank is currently carrying out a $6 billion IPO, the largest ever launched in the Arab world.
He added that the three IPOs will take place until the end of 2015.
Saudi Arabia’s $550 billion stock market saw just five IPOs in 2013 worth a total of around $506 million, down in both volume and value from the previous year.
However, volume and value are set to grow this year, as the market regulator encourages listing of companies which it believes contribute to economic growth.
“We have an excellent deals in pipeline. We think we will see one IPO every quarter from Saudi Fransi Capital for the coming five quarters,” Al-Rumayyan said.
“I have a bigger list than this one. We have another IPO in the steel sector, and one in building materials.”
The National Commercial Bank is currently carrying out a $6 billion IPO, the largest ever launched in the Arab world.
Source:
Mubasher
