Saudi PIF to sell 10% of its stake in Saudi Tadawul Group

Thu, 2022-11-10 16:02

RIYADH: Saudi Arabia’s Public Investment Fund plans to sell 10 percent of its stake in the Kingdom’s stock exchange operator Saudi Tadawul Group Holding Co. through an accelerated book-building offering.

PIF, which has over $600 billion in assets, is selling 12 million shares in Tadawul Group, according to a bourse filing.

The offering is in line with PIF’s strategy of recycling its capital in order to invest in emerging and promising sectors of the local economy, according to a statement. 

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