Saudi Arabia-based management consultancy TAM Development Co. is planning an IPO later this year, according to a Bloomberg report.
TAM is planning to list on the kingdom’s small cap market, co-founder and Chief Executive Officer Abdullah Yousef told Bloomberg in an interview. It will look to be upgraded to the main exchange within two years, he said.
The consultancy derives most of its revenue from advising the Saudi government and government-related entities linked to its sovereign fund, the Public Investment Fund, the report said.
(Writing by Brinda Darasha; editing by Seban Scaria)