The Saudi Stock Exchange (Tadawul) Announces Its Transformation into A Holding Company (Saudi Tadawul Group) In Preparation for IPO
Khalid Al-Hussan to be appointed as the Group's Chief Executive Officer
- Khalid Al-Hussan to be appointed as the Group's Chief Executive Officer
The Saudi Stock Exchange (Tadawul) today announced its transformation into a holding group structure and reinforcing its capabilities in technology innovation by launching a dedicated applied technology solutions company, Wamid. - This transformation marks a new chapter in the Group's history and signals its readiness for the IPO in 2021.
- Tadawul announced the launch of a holding company, the Saudi Tadawul Group, which will become the parent company with a portfolio of four subsidiaries: the Saudi Exchange, a dedicated stock exchange business (previously known as the Saudi Stock Exchange Company - Tadawul), the Securities Clearing Center Company (Muqassa), the Securities Depository Center Company (Edaa) and Wamid a new innovative applied technology services business, focused on providing innovation and nascent technologies within the Saudi economy through pragmatic innovation.
- It will increase the Saudi capital market's attractiveness among global investors and reinforce its position as the issuers' exchange of choice.