Saudi bourse Tadawul receives proposals from 10 firms seeking advisory roles for IPO

Will be renamed Saudi Tadawul Group

  

DUBAI- Saudi Arabia's bourse Tadawul has received proposals from 10 local and international firms on potential advisory roles for its upcoming initial public offering (IPO), Group Chief Executive Khalid al-Hussan said on Wednesday.

"In the next two weeks, we will be announcing the appointment of the advisor or advisors of that offering," al-Hussan told Reuters.

Saudi Arabia's stock exchange has converted itself into a holding company and will be renamed Saudi Tadawul Group ahead of its IPO this year, he said earlier. 

(Reporting by Saeed Azhar and Hadeel Al Sayegh; Editing by Jan Harvey) ((Saeed.Azhar@thomsonreuters.com; +971 44536787; Reuters Messaging: saeed.azhar.reuters.com@reuters.net))

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