PIF official: Selling 10% of “Tadawul” shares is in line with ‎capital recycling, increases market free stock ‎

Eyas Al-Dosari, Director of the Investment Advisory Department in the General Administration for Middle East and North African Investments at the Public Investment Fund, said that the success of the fund’s sale of 12 million shares of its share in Tadawul, which represents 10% of the capital, comes in the framework of the fund’s capital recycling program, through which the fund aims to invest in developing new and promising sectors in the local economy. He added that it contributes to increasing the company’s free-traded shares, raising liquidity in the market for local and international investors, enhancing value for shareholders in the company and the Saudi market in general, and evidence of the attractiveness of the Saudi financial market and investor confidence in the strength and durability of the Saudi economy.

The sale process witnessed wide interest from local and international investors, which is an indication of the position of the Saudi Tadawul Holding Group, as a specialized company listed on the Saudi stock market.”

Today, Sunday, the Public Investment Fund announced the successful completion of the sale of part of its stake in the Saudi Tadawul Holding Group “Tadawul” through the accelerated book building process (“the Offering”).

The fund sold 12,000,000 shares of its stake in Tadawul, which represents 10% of the capital. The size of the offering amounted to 2.3 billion riyals, which is the second largest process of building an accelerated order book ever in the Saudi market and the Gulf region. The fund’s share after the sale is 72,000,000 shares or 60% of the company’s capital.