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Saudi Tadawul to Offer 36 Mn Share in IPO

Tadawul prepares for initial public offering (Asharq Al-Awsat)
Tadawul prepares for initial public offering (Asharq Al-Awsat)
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Saudi Tadawul to Offer 36 Mn Share in IPO

Tadawul prepares for initial public offering (Asharq Al-Awsat)
Tadawul prepares for initial public offering (Asharq Al-Awsat)

The Saudi Tadawul Holding Group, the kingdom's stock exchange, announced its intent to proceed with an initial public offering after receiving approval from the Capital Market Authority (CMA).

CMA said on Wednesday it approved an initial public offering of Tadawul of 36 million shares, which represents 30 percent of Tadawul's share capital.

Tadawul chairwoman Sarah al-Suhaimi said that the announcement marks a significant milestone in the company's growth story.

Suhaimi indicated that the announcement is a "natural next step as we emerge as a Saudi powerhouse with a global mindset that can leverage scale, innovation, and execution capabilities to drive long-term value for all our stakeholders."

The listing will help achieve the "nationwide goal of the successful delivery of Saudi's Vision 2030", which is "aligned" with the strategy of the Public Investment Fund (PIF), she added.

CMA CEO Khalid al-Hussan, said the institutional offering will be on November 21 over six days, while individuals' offering will be on November 30 for three days, indicating that nearly $133 million have been achieved in 2020.

The company said that all the offered shares would be delivered to institutional investors, with a clawback to retail investors of up to 10 percent of the offered shares.

The Tadawul Group includes in its portfolio four wholly-owned subsidiaries: the Saudi Tadawul Company, one of the largest financial markets in the world in terms of market capitalization, the Securities Depository Center Company (Edaa), the Securities Clearing Center Company (Muqassa), and Wamid, the applied technology services business and innovation arm of the group.

Tadawul is characterized by a diversified and interconnected business model, allowing the company to provide a full range of products and services related to the financial markets.

In accordance with Saudi regulations, CMA's approval is valid for a period of six months from the date of issuance. It will be annulled if the offering and listing of the shares are not completed during this period.

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Saudi Arabia Unveils Extensive Mineralized Belts for Exploration Firms

Saudi Arabia’s Ministry of Industry and Mineral Resources is inviting local and international companies to participate in the Exploration Licensing for launched mineralized belts (Reuters)
Saudi Arabia’s Ministry of Industry and Mineral Resources is inviting local and international companies to participate in the Exploration Licensing for launched mineralized belts (Reuters)
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Saudi Arabia Unveils Extensive Mineralized Belts for Exploration Firms

Saudi Arabia’s Ministry of Industry and Mineral Resources is inviting local and international companies to participate in the Exploration Licensing for launched mineralized belts (Reuters)
Saudi Arabia’s Ministry of Industry and Mineral Resources is inviting local and international companies to participate in the Exploration Licensing for launched mineralized belts (Reuters)

Saudi Arabia's Ministry of Industry and Mineral Resources has unveiled its largest mineralized belts to date, spanning 4.7 thousand square kilometers and including five new exploration licenses.
The Ministry is inviting major mining and exploration companies to participate in the current Exploration Licensing Rounds, aiming to unlock the extensive mineral wealth of these belts.
The Ministry’s spokesperson, Jarrah Al-Jarrah, emphasized that this initiative underscores Saudi Arabia’s commitment to strengthening its mining and minerals sector and creating investment opportunities.

The five available exploration licenses are part of the Ministry’s strategy to boost exploration investment and support Vision 2030 objectives, which aim to position mining as a key industry in the Kingdom.
These licenses cover significantly larger areas than previous rounds and are targeted at high-net-worth companies with developed base and precious metal mines.
Saudi Arabia is seeking investors capable of exploring and discovering large, tier-1 deposits within approximately 1,000 square kilometers of exploration licenses. The Kingdom’s infrastructure and competitive financing options make it well-positioned to develop new tier-1 sites.
The Ministry is inviting local and international companies to participate in the Exploration Licensing for the following mineralized belts:
- Jabal Sayid: Three exploration licenses covering 2,892 square kilometers. The belt contains copper, zinc, lead, gold, and silver.
- Al-Hajjar: Two exploration licenses at the Wadi Shwas VMS Belt, covering 1,896 square kilometers. This site holds deposits of gold, silver, copper, and zinc.
Al-Jarrah highlighted that Jabal Sayid and Al-Hajjar are the largest mineralized belt sites ever launched by the Kingdom.
The bidding process for the exploration licenses will be transparent and conducted in stages, beginning with pre-qualification from July to October 2024.
Qualified bidders will then submit technical proposals and social and environmental impact management plans by December 2024, with the winners announced and licenses granted in January 2025.