RIYADH: The Saudi Stock Exchange (Tadawul) has welcomed Saudi Arabian Oil Company’s (Saudi Aramco) intention to proceed with an initial public offering (IPO) on the main market, affirming Tadawul’s capabilities and readiness to become the listing venue for, what is expected to be, the largest IPO in history.
Eng. Khalid Al Hussan, CEO of Tadawul, commented: “We are proud that Saudi Aramco has selected Tadawul as the venue for the intended listing of its shares. Tadawul and all its systems are ready to receive the largest listing in the history of financial markets, which will mark a major milestone in Tadawul’s journey and bolster our position among international stock exchanges.”
“The listing of Saudi Aramco’s shares is a major event for Tadawul and a significant milestone towards the realization of Vision 2030. We will make every effort, alongside our partners in the Saudi Capital Market, to ensure this listing is a success and secures Tadawul’s position as a leading international stock exchange.
Over the past two years, Tadawul and the CMA have worked together to improve the Saudi capital market’s functionality and efficiency, develop its infrastructure, and promote sounder governance and transparency standards in line with international best practices. Capital market reforms and market enhancements implemented over the past two years have paved the way for Emerging Markets index inclusions and reflect Tadawul’s continued commitment to enhance the effectiveness of the Saudi Capital market, foster an attractive investment environment for local and international investors, and align its regulatory frameworks with international best practices.