RiyadhSaudi Arabia’s plan to list the Saudi Stock Exchange (Tadawul) for initial public offering (IPO) is not cancelled, regardless of the entry of foreign investors, Tadawul’s chairperson said.

Tadawul still awaits the completion of the listing procedures, Sarah Al Suhaimi added on the sidelines of the World Economic Forum (WEF) in Davos on Thursday.

Al Suhaimi expected the completion of these procedures by the end of 2020 in order to take a decision regarding the IPO when it is ready.

In April 2018, Saudi Arabia postponed the IPO of its stock exchange until the beginning of 2019 on hopes that MSCI’s potential classification as an emerging market in June would improve its value, informed sources said.

 

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