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Tadawul becomes Saudi Tadawul Group ahead of IPO

Tadawul becomes Saudi Tadawul Group ahead of IPO
Saudi Tadawul Group will become the parent company of four subsidiaries

Riyadh – Mubasher: The Saudi Stock Exchange (Tadawul) announced on 7 April its transformation into a holding group structure, dubbed Saudi Tadawul Group, signalling its readiness for the initial public offering (IPO) in 2021.

Saudi Tadawul Group will become the parent company of four subsidiaries that include the Saudi Exchange, formerly known as the Saudi Stock Exchange Company – Tadawul, to focus on stock exchange business.

Securities Clearing Center Company (Muqassa) and the Securities Depository Center Company (Edaa) will also operate under the group entity.

The fourth and last subsidiary is Wamid, which is an applied technology services business focused on providing innovation and nascent technologies to the capital markets industry.

“The group will benefit from the integration and synergies between its subsidiaries, ensuring efficient intra-group operations across the organization. The operational independence of each subsidiary will create an agile environment supporting rapid responses to evolving global and local market trends,” Tadawul said in a statement.

Tadawul’s IPO would make the third publicly listed stock exchange in the GCC area after the conversion of the Dubai Financial Market and Boursa Kuwait.