Saudi bourse revamps corporate structure, targeting IPO in 2021 ...Qatar

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Saudi bourse revamps corporate structure, targeting IPO in 2021
Saudi Arabia’s stock exchange, the largest in the Middle East, announced a reorganisation of its corporate structure as it prepares for a highly anticipated initial public offering this year. The newly created Saudi Tadawul Group will have four subsidiaries, comprising the exchange, a clearing centre, a depository company and a technology-services business. The changes create the “necessary platform” to strengthen the group’s infrastructure before the IPO this year, company officials said in a virtual event yesterday. Saudi Arabia has been a hot market for IPOs in the Middle East over the past two years, with new offerings oversubscribed, mostly by local retail and institutional investors.

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