Chairman of the Capital Market Authority (CMA), Mohammad El Kuwaiz, has announced that the Saudi Stock Exchange is expected to be the main market for the initial Saudi Aramco IPO. The Saudi Stock Exchange, also known as Tadawul, recently completed the final phase of joining MSCI’s Emerging Markets Index. Saudi Aramco has also announced that it will be hiring a number of international banks as bookrunners for the initial public offering, reported to include UBS, Barclays Plc and Deutsche among others. In other news, Prince Abdulaziz bin Salman told a press conference in Jeddah that half of the Aramco production affected by the attack is now back online and full production capacity will return by the end of this month.
To read more about this and more of this week’s news from the Kingdom, click here.
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