Saudi stock market exchange Tadawul seeks to raise up to $1b from IPO

Saudi Arabia's stock exchange, Tadawul, seeks to raise up to SR3.8 billion ($1 billion) from its public shares sale after setting the price range per share between SR95 and SR105.

Tadawul appointed SNB Capital as the lead manager, financial advisor, book-runner, Global Coordinator and underwriter for the initial public offering, while J.P. Morgan Saudi Arabia, and Citigroup Saudi Arabia were appointed as financial advisors, book-runners, global coordinators and underwriters on the offering of 36 million shares of Saudi Tadawul Group Holding Co., it said in a filing today.

source: Arab news