Initial Public Offering

Saudi Tadawul Group Holding Company (“Saudi Tadawul Group” or the “Company”) is pleased to announce its intention to offer 30% of its share capital to the public through an initial public offering (IPO) and to list its ordinary shares on the Main Market of the Saudi Exchange.

A center for capital formation

As the operator of one of the largest exchanges in the world and the leading exchange in the MENA region based on market capitalization and liquidity, the Company is well-positioned to act as a bridge between global foreign investors and the region's economies. To fulfil its vision and mission, the Company pursues a strategy of growth and diversification through the development and implementation of new asset classes, products and services, while strengthening inter-connectivity with other financial markets in the region and around the world to facilitate capital formation. In doing so, the Company strives to become increasingly capable and agile to evolve in an increasingly competitive global environment, capitalize on business opportunities, drive greater efficiencies and mitigate risk.

The Saudi Tadawul Group was established in March 2021 following the transformation of the Saudi Stock Exchange (Tadawul) into a Holding Group structure. The Company is the parent company with a portfolio of four wholly owned subsidiaries and one partially owned subsidiary. Each subsidiary operates independently while benefitting from a vertically integrated and scalable business model.

The operational independence of each subsidiary creates an agile environment, supporting rapid responses to evolving global and local market trends. Wholly owned subsidiaries include:

  • Saudi Exchange

    The Saudi Exchange Company ("the Saudi Exchange"), a wholly owned subsidiary, acts as a stock exchange in the Kingdom, enabling companies to raise capital through offerings made on a platform and list their securities. Apart from listing services, the Saudi Exchange also provides cash trading, derivatives trading, market information, client relations and operational services.

    See Details
  • Edaa

    Securities Depository Center Company (Edaa): The Securities Depository Center Company ("Edaa"), a wholly owned subsidiary, provides securities settlement for all securities traded on the market, along with providing depository services, including custody, registration and registry keeping services to clients.

    See Details
  • Muqassa

    The Securities Clearing Center Company ("Muqassa"), a wholly owned subsidiary, guarantees the trades and provides clearing services for financial derivatives. Muqassa is expected to extent its clearing services to all other securities including equities, fixed income as well as additional derivatives products in the future.

    See Details
  • Wamid

    WAMID Tadawul Advanced Solutions Company ("WAMID"), a wholly owned subsidiary, intends to drive technology-based innovation while pursuing new opportunities in the region. Its objective is to enhance the investor experience in the market by advancing technology and access to data, acting as a hub for innovation across the Company.

    See Details

In addition, Tadawul Real Estate Company (TREC) – a Saudi limited liability company operating in the field of real estate management and development - is a 33.12% owned subsidiary.

SEIZING THE MOMENTUM IN THE SAUDI ECONOMY

As one of the key enablers of the Saudi economy and the foundational pillar of the Financial Sector Development Program under Vision 2030, the Company is contributing to Vision 2030 by supporting the development of a thriving economy with a technologically advanced and integrated capital market at its center.

As the operator of one of the largest exchanges in the world by market capitalization and a leading exchange in the MENA region, the Company is well-positioned to serve as a bridge between global investors and the region’s economies while fostering the development of a diverse Saudi capital market.

Today, there is an unparalleled opportunity to seize the strong momentum in the Saudi economy and become the undisputed center for capital formation in the MENA region.

Messages from Leadership

Today’s announcement marks a major milestone in the Company’s growth story and is the natural next step as we emerge as a Saudi powerhouse with a global mindset that is able to leverage scale, innovation and execution capabilities to drive long-term value for all our stakeholders, achieving the nation-wide goal of the successful delivery of Saudi's Vision 2030 and aligned with the strategy of the Public Investment Fund.

Sarah Al Suhaimi Group Chairperson, Saudi Tadawul Group

Driven by our global thinking and ambitions, the listing will provide an important strategic dimension to realize the Company’s objectives, increase the Saudi capital market’s sophistication, cement its position as a regional center for capital formation and a globally competitive and attractive investment destination. It will serve to further enhance our corporate governance practices and enable us to leverage our integrated subsidiary model to provide a platform for investors to gain exposure to the Saudi economy.

Eng. Khalid Abdullah Al-Hussan CEO of Saudi Tadawul Group

INVESTMENT HIGHLIGHTS

A National Champion and Integral to the Delivery of Vision 2030

  • The Kingdom is currently undergoing a significant economic transformation. At the heart of the Kingdom's economic momentum is the Vision 2030 program of the Saudi Government. Launched in 2016, the program aspires to reduce the country's dependency on oil, diversify its economic resources and enhance its growth profile.
  • As the only G20 economy in the region, the Kingdom is well-positioned as the dominant economy in comparison to its neighbours. With a total estimated GDP of SAR 2.6 trillion for 2020, the Kingdom forms nearly 48% of the total GDP among the member states of the Gulf Cooperation Council (GCC).
  • The Company is the foundational pillar for the delivery of the FSDP which has the stated goal of developing an advanced capital market to support the broader realization of Vision 2030.

A Differentiated Business Model – Integrated, Scalable and Diverse

  • The Saudi Tadawul Group’s integrated and diverse business model is a key enabler for sustainable top-line revenue growth and innovation. The operational independence of each subsidiary facilitates an agile environment and supports rapid responses to evolving global and regional market trends.
  • The structure will foster growth and innovation while providing strategic flexibility. This in turn will allow it to compete with other exchanges globally.
  • With its subsidiaries, the Saudi Tadawul Group provides end-to-end services from listing, trading, post trade and data and technology services.

Primed to be the Center for Regional Capital Formation

  • Saudi Tadawul Group has strong strategic and competitive positioning supported by its scale, growth profile, and role at the heart of a large-scale economic transformation agenda envisaged by Vision 2030 and the growing global relevance of the Kingdom on the international stage.
  • The Saudi Exchange is amongst the largest exchanges globally by market capitalization of listed companies (approximately US$2.7 trillion as of 30 September 2021.)
  • The Company has no close peer within the MENA region and accounts for approximately 75% of total regional market capitalization as of 30 September 2021 and approximately 79% of regional traded value YTD as of 30 September 2021.
  • The number of Qualified Foreign Investors (QFIs) is in excess of 2,600 as of 30 September 2021, with a growth rate of 15% year-on-year.
  • The successful execution of the Saudi Aramco IPO, the largest ever IPO globally, enhanced the profile of the Company in successfully delivering an IPO of global relevance. In addition, the growing proliferation of new classes of securities and platforms (Nomu - Parallel Market, fixed-income securities, REITs, CEFs and derivatives) distinguishes the Company as a regional leader in product and business development.

The Company has Delivered a Strong Financial Performance Characterized by Significant Growth and Increasing Margins

  • From 2018 to 2020, the Company’s operating revenue grew at a CAGR of 36% and the Company’s operating revenues almost doubled with a growth rate of 91% from 2019 to 2020, primarily driven by increased trading and capital market activity.
  • This growth momentum has continued in the 9 months ending 30 September 2021 with an increase in operating revenues of 30% over the comparative period in the previous year.
  • This top-line performance has translated into increased margins, with an EBITDA margin for the period ending 30 September 2021 of 60%, compared to 51% in the comparative period in the previous year and compared to an EBITDA margin of 55% in 2020 and 16% in 2019.
  • The Company’s profit margin increased to 53% in the period ending 30 September 2021 compared to 50% in the comparative period in the previous year and compared to 46% in 2020 and 27% in 2019, given the substantial operating leverage in the business.
  • The degree of organic capital and free cash flow generation has enabled the Company to maintain a well-capitalized balance sheet and positions the Company with strong dividend potential.

A Seasoned Leadership Team with a Track Record of Delivery

  • Saudi Tadawul Group has a seasoned and visionary management team with strong capital markets expertise.
  • Ongoing delivery of the 2018-2022 five-year strategic plan has witnessed a number of key achievements, including expansion into financial derivatives with the launch of index futures, enhancement of debt markets trading infrastructure, delivery of large-scale post-trade capabilities to bring the Company in line with other leading exchanges globally and development of a new data center to enable business continuity and to provide higher availability for mission-critical systems for the Company.
  • This executive management team is supported by a Board of Directors, with comprehensive experience in local and global capital markets.

Significant Growth Opportunities Ahead

  • The Company’s profile is supported by strong potential for continued growth based on the positive structural characteristics supporting the Kingdom's economy, as well as many new business initiatives facilitated by the recent corporate reorganization and building upon the Company’s project and initiative execution track record in business development.
  • The organic growth drivers for the business are, as previously mentioned, underpinned by the Vision 2030 and the Kingdom's growing economic profile, which together are expected to drive new issuances across asset classes and strong capital markets activity in the Kingdom.
  • In particular, key new initiatives include the continued expansion into financial derivatives. The Company launched MT30 index in August 2020 and plans to follow with single stock futures, options, data and indices services, clearing across cash and debt markets, and new technology and data revenues attributable to the launch of WAMID.

Saudi Tadawul Group In Numbers

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    500 +

    Registered Securities

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    SAR 134 bn~

    Raised through IPOs

    (2018-30 September 2021)
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    2,600 +

    QFIs as at Q3 2021

    (21x growth in number of registered QFIs since January 2018)
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    SAR 10 tn~

    Listed Companies Market Capitalization
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    223 +

    Listed Companies on the

    Saudi Exchange as of Q3 2021
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    SAR 1,080 m

    91% YoY revenue growth

    in 2020
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    SAR 909 m

    Operating revenues for the period ending

    30 September 2021
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    60%

    EBITDA

    Margin during first 9 months of 2021
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    SAR 501 m

    FY 2020 Net Income

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    SAR 477 m

    During first 9 months of 2021

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    World’s Largest IPO

    Was placed on the Saudi Exchange in 2019

How to subscribe

  • Be prepared - Make sure you have an active current account at one of the Receiving Agents: The Saudi National Bank, Al Rajhi Bank, Riyad Bank, Alinma Bank and Arab National Bank.
  • Make an investment - Gather information on the Company and the IPO by viewing the prospectus in order to make an informed investment decision.
  • Subscribe to the offered shares - Once you have reached an investment decision, you may subscribe to the offered shares through one of the Receiving Agents: The Saudi National Bank, Al Rajhi Bank, Riyad Bank, Alinma Bank and Arab National Bank at any of their following channels:
    • Mobile Banking
    • ATMs
    • Telephone Banking
  • 4. Allocation of Shares – Based on the overall demand for the offering you may not receive your order in full. Any excess amount will be refunded into your account without any fees or deductions.

FAQs

  • Where is Saudi Tadawul Group planning to list?

    The shares will be listed on the Main Market of the Saudi Exchange.

  • What is the transaction structure?

    This will be an offering 36 million shares to local, regional and international institutional investors and retail investors. The offer represents 30% of our company’s issued share capital of 120 million shares by way of a sale of existing shares by the sole shareholder, the Public Investment Fund.

  • When will the final offer price be announced?

    The final price of the shares will be set after the book-building period is complete.

  • Who is eligible to subscribe?

    Subscription to the offer is available to:

    • Participating Parties (Institutional Investors): This tranche comprises a number of institutions and companies including investment funds, qualified foreign investors (QFIs) and GCC investors with legal personalities.
    • Individual Subscribers: This tranche comprises of Saudi natural persons including any Saudi female divorcee or widow with minor children from a marriage to a non-Saudi individual, who is entitled to subscribe to the Offer Shares for her own benefit. This applies as well to persons who are resident in the Kingdom of Saudi Arabia, or GCC nationals (Bahrain, Kuwait, Oman, Qatar and the United Arab Emirates) who have a bank account and are entitled to open an investment account with one of the Receiving Agents, are also included in this tranche.
  • How can I subscribe?

    Please contact one of the Receiving Agents including The Saudi National Bank, Al Rajhi Bank, Riyad Bank, Alinma Bank and Arab National Bank, who can advise you on the subscription process. Further details will be disclosed in the prospectus in due course. You may also direct any investment related queries to your financial advisor.

Useful Resources

  • ITF Press Release
  • ITF Addendum Announcement
  • IPO Factsheet
  • Final Prospectus
  • Supplementary Prospectus
  • Announcement of the Offering Price Range and Commencement of Institutional Book-Building
  • Announcement of the IPO Final Offer Price
  • The Announcement of Results the Offering Period for Individual Investors

Contact Details

Lead Manager:

Financial Advisors, Bookrunners & Underwriters:

Communications Advisor:

Receiving Banks

The following pages contain information relating to a proposed transaction by the Saudi Tadawul Group Holding Company (“the Company”). This information may not be accessed by residents of certain countries based on applicable securities law regulations.

Please choose the country where you reside:

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Disclaimer – Important

ELECTRONIC VERSIONS OF THE MATERIALS (THESE 'MATERIALS') YOU ARE SEEKING TO ACCESS ARE BEING MADE AVAILABLE ON THIS WEBSITE BY SAUDI TADAWUL GROUP HOLDING COMPANY IN GOOD FAITH AND ARE FOR INFORMATION PURPOSES ONLY.

THESE MATERIALS ARE NOT DIRECTED AT OR INTENDED TO BE ACCESSIBLE BY PERSONS IN THE UNITED STATES, OR PERSONS RESIDENT OR LOCATED IN AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION WHERE THE EXTENSION OF AVAILABILITY OF THE MATERIALS TO WHICH YOU ARE SEEKING ACCESS WOULD BREACH ANY APPLICABLE LAW OR REGULATION OR WOULD REQUIRE ANY REGISTRATION OR LICENCING WITHIN SUCH JURISDICTION.

IMPORTANT: You must read the following notice carefully – it applies to all persons who access this website. Please note that the disclaimer set out below may be altered or updated. You should read it in full each time you visit the site. If you access these Materials on this website, you agree to be bound by the terms and conditions below. If you do not agree to the terms and conditions, do not access this website or view any of these Materials.

Overseas persons

Viewing the information in these Materials may be restricted and is not for release, publication or distribution, in whole or in part, directly or indirectly, in certain jurisdictions. In other jurisdictions only certain categories of person may be allowed to view these Materials.

The materials are for information purposes only and do not constitute or form a part of any offer or solicitation to purchase or subscribe for securities in the United States, Australia, Canada, Japan, the Republic of South Africa or in any jurisdiction in which such offers or sales are unlawful (the "Excluded Jurisdictions"). Any securities issued in connection with an offering have not been and will not be registered under the U.S. Securities Act of 1933, as amended, or under any applicable securities laws of any state, province, territory, county or jurisdiction of the United States, Australia, Canada, Japan or the Republic of South Africa. Accordingly, unless an exemption under relevant securities laws is applicable, any such securities may not be offered, sold, resold, taken up, exercised, renounced, transferred, delivered or distributed, directly or indirectly, in or into the United States, Australia, Canada, Japan or the Republic of South Africa or any other jurisdiction if to do so would constitute a violation of the relevant laws of, or require registration of such securities in, the relevant jurisdiction. There will be no public offer of securities in the United States.

The materials are only addressed to and directed at Saudi persons, non-Saudi natural persons who are resident in the Kingdom and GCC persons.

Basis of access

Making press announcements and other documents available in electronic format does not constitute an offer to sell or the solicitation of an offer to buy any securities in the Company. Further, it does not constitute a recommendation by the Company or any other party to sell or buy securities in the Company.

Unless otherwise determined by the Company and permitted by applicable law and regulation, copies of these Materials are not being, and must not be, released or otherwise forwarded, distributed or sent in or into the United States, Australia, Canada, Japan or the Republic of South Africa or any other jurisdiction in which offers or sales are unlawful and persons receiving such documents, (including custodians, nominees and trustees) must not distribute or send them in or into the foregoing countries. Any failure to comply with any such restrictions may constitute a violation of the securities laws of such jurisdiction.

If you are not permitted to view materials on this website or are in any doubt as to whether you are permitted to view these materials, please exit this webpage.

These materials must not be, released or otherwise forwarded, distributed or sent in or into the United States, Australia, Canada, Japan, the Republic of South Africa or any jurisdiction in which such offers or sales are unlawful. Persons receiving such documents (including custodians, nominees and trustees) must not distribute or send them in, into or from the United States, Australia, Canada, Japan or the Republic of South Africa.

General

The information contained in these Materials is not comprehensive. Although care has been taken in the preparation of the information, not all such information may be accurate and up to date in all respects and the Company accepts no responsibility to update the information contained in this website. No reliance may be placed for any purpose whatsoever on the information or opinions contained in these Materials or any other document or oral statement or on the completeness, accuracy or fairness of such information and/or opinions therein. All information is provided without any warranties of any kind and the Company and its advisers make no representations and disclaim all express and implied warranties and conditions of any kind, including, without limitation, representations, warranties or conditions regarding accuracy, timeliness, completeness, non-infringement, merchantability or fitness for any particular purpose and the Company and its advisers assume no responsibility to you or any third party for the consequences of any errors or omissions. Neither the Company nor its advisers accept any liability for any direct or indirect or consequential loss or damages of any kind resulting from any use of this website or any information contained in it. The Company accepts no responsibility for any contravention of applicable securities laws and regulations by persons as a result of false information provided by such persons.

Neither these Materials nor anything contained therein shall form the basis of, or be relied upon in connection with, any offer or commitment whatsoever in any jurisdiction. Investors may only subscribe in the securities referred to in this announcement on the basis of a duly approved prospectus to be issued and published in due course (the "Prospectus"). Copies of the Prospectus will, following publication, be available from the Company’s registered office and its website at https://www.tadawulgroup.sa/. These Materials are not an offer document for the purposes of the the Rules on the Offer of Securities and Continuing Obligations (OSCOs) and should not be construed as such. The CMA and the Saudi Exchange do not take any responsibility for the contents of these Materials, do not make any representations as to their accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of these Materials.

There is no guarantee that the Offering will occur and you should not base your financial decisions on the Company’s intentions in relation to the Offering at this stage. These Materials do not constitute a recommendation concerning the Offering. Acquiring shares to which These Materials relate may expose an investor to a significant risk of losing the entire amount invested. Persons considering investment should consult an investment advisor or an authorized person specializing in advising on such investments.

Certain information in these Materials is of a historical nature and may be out of date. All historical information should be understood to speak from the date of its publication. Actual results and developments may be materially different from any opinion or expectation expressed in these Materials. In addition, past performance is no guide to future performance, whether of the Company or its securities.

Certain statements contained in the Materials available on this part of the website constitute forward-looking statements. By their nature, forward-looking statements involve a number of risks, uncertainties and assumptions that could cause actual results or events to differ materially from those expressed or implied by the forward-looking statements. These risks, uncertainties and assumptions could adversely affect the outcome and financial effects of the plans and events described herein. Forward-looking statements contained in these Materials that reference past trends or activities should not be taken as a representation that such trends or activities will necessarily continue in the future. You should not place undue reliance on forward-looking statements, which speak only as of the date of the relevant document.

In the event of any discrepancy between these Materials and the Arabic language Prospectus, the Arabic language Prospectus will prevail.

These Materials have been made available to you in an electronic form. You are reminded that materials transmitted via this website may be altered or changed during the process of electronic transmission and consequently the Company does not accept any liability or responsibility whatsoever in respect of any difference between the materials distributed to you in electronic format and any hard copy version. By accessing these Materials, you consent to receiving it in electronic form.

You are responsible for protecting against viruses and other destructive items. Your receipt of these Materials via electronic transmission is at your own risk and it is your responsibility to take precautions to ensure that it is free from viruses and other items of a destructive nature.

Confirmation of understanding and acceptance of disclaimer

By clicking on the "I AGREE" button, I:

  • warrant that I:
    • am not located in the United States and am not resident or located in Australia, Canada, Japan, the Republic of South Africa or any other jurisdiction where accessing these materials is unlawful, or
    • am a Saudi or GCC national or a resident in the Kingdom,
  • agree that I will not forward, transfer, transmit or otherwise send (by any means including by electronic transmission) any materials contained in this website to any person in the United States, Australia, Canada, Japan, the Republic of South Africa or any other territory where to do so would breach applicable local law or regulation; and
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Disclaimer – Important

ELECTRONIC VERSIONS OF THE MATERIALS (THESE 'MATERIALS') YOU ARE SEEKING TO ACCESS ARE BEING MADE AVAILABLE ON THIS WEBSITE BY SAUDI TADAWUL GROUP HOLDING COMPANY IN GOOD FAITH AND ARE FOR INFORMATION PURPOSES ONLY.

THESE MATERIALS ARE NOT DIRECTED AT OR INTENDED TO BE ACCESSIBLE BY PERSONS IN THE UNITED STATES, OR PERSONS RESIDENT OR LOCATED IN AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION WHERE THE EXTENSION OF AVAILABILITY OF THE MATERIALS TO WHICH YOU ARE SEEKING ACCESS WOULD BREACH ANY APPLICABLE LAW OR REGULATION OR WOULD REQUIRE ANY REGISTRATION OR LICENCING WITHIN SUCH JURISDICTION.

IMPORTANT: You must read the following notice carefully – it applies to all persons who access this website. Please note that the disclaimer set out below may be altered or updated. You should read it in full each time you visit the site. If you access these Materials on this website, you agree to be bound by the terms and conditions below. If you do not agree to the terms and conditions, do not access this website or view any of these Materials.

Overseas persons

Viewing the information in these Materials may be restricted and is not for release, publication or distribution, in whole or in part, directly or indirectly, in certain jurisdictions. In other jurisdictions only certain categories of person may be allowed to view these Materials.

The materials are for information purposes only and do not constitute or form a part of any offer or solicitation to purchase or subscribe for securities in the United States, Australia, Canada, Japan, the Republic of South Africa or in any jurisdiction in which such offers, or sales are unlawful (the "Excluded Jurisdictions"). Any securities issued in connection with an offering have not been and will not be registered under the U.S. Securities Act of 1933, as amended, or under any applicable securities laws of any state, province, territory, county or jurisdiction of the United States, Australia, Canada, Japan or the Republic of South Africa. Accordingly, unless an exemption under relevant securities laws is applicable, any such securities may not be offered, sold, resold, taken up, exercised, renounced, transferred, delivered or distributed, directly or indirectly, in or into the United States, Australia, Canada, Japan or the Republic of South Africa or any other jurisdiction if to do so would constitute a violation of the relevant laws of, or require registration of such securities in, the relevant jurisdiction. There will be no public offer of securities in the United States.

The materials are only addressed to and directed at persons in member states of the European Economic Area (the "EEA"), who are "qualified investors" within the meaning of Article 2(e) of the Prospectus Regulation (Regulation (EU) 2017/1129), as amended ("Qualified Investors").

In the United Kingdom, the materials are being distributed only to, and is directed only at, persons who are "qualified investors" within the meaning of Article 2(e) of the Prospectus Regulation as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018, as amended and supplemented (including by the UK Prospectus Amendment Regulations 2019 and Financial Services and Markets Act 2000 (Prospectus) Regulations 2019), and who are persons (i) having professional experience in matters relating to investments so as to qualify them as “investment professionals” under Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the “Order”); (ii) who are high net worth entities falling within Article 49(2)(a) to (d) of the Order; or (iii) are other persons to whom it may otherwise lawfully be communicated (all such persons referred to in (i), (ii) and (iii) together being “Relevant Persons”). Any investment or investment activity to which the materials relate is available only to Relevant Persons in the United Kingdom and Qualified Investors in any member state of the EEA and will only be engaged with such persons.

Basis of access

Making press announcements and other documents available in electronic format does not constitute an offer to sell or the solicitation of an offer to buy any securities in the Company. Further, it does not constitute a recommendation by the Company or any other party to sell or buy securities in the Company.

Unless otherwise determined by the Company and permitted by applicable law and regulation, copies of these Materials are not being, and must not be, released or otherwise forwarded, distributed or sent in or into the United States, Australia, Canada, Japan or the Republic of South Africa or any other jurisdiction in which offers or sales are unlawful and persons receiving such documents, (including custodians, nominees and trustees) must not distribute or send them in or into the foregoing countries. Any failure to comply with any such restrictions may constitute a violation of the securities laws of such jurisdiction.

If you are not permitted to view materials on this website or are in any doubt as to whether you are permitted to view these materials, please exit this webpage.

These materials must not be, released or otherwise forwarded, distributed or sent in or into the United States, Australia, Canada, Japan, the Republic of South Africa or any jurisdiction in which such offers or sales are unlawful. Persons receiving such documents (including custodians, nominees and trustees) must not distribute or send them in, into or from the United States, Australia, Canada, Japan or the Republic of South Africa.

General

The information contained in these Materials is not comprehensive. Although care has been taken in the preparation of the information, not all such information may be accurate and up to date in all respects and the Company accepts no responsibility to update the information contained in this website. No reliance may be placed for any purpose whatsoever on the information or opinions contained in these Materials or any other document or oral statement or on the completeness, accuracy or fairness of such information and/or opinions therein. All information is provided without any warranties of any kind and the Company and its advisers make no representations and disclaim all express and implied warranties and conditions of any kind, including, without limitation, representations, warranties or conditions regarding accuracy, timeliness, completeness, non-infringement, merchantability or fitness for any particular purpose and the Company and its advisers assume no responsibility to you or any third party for the consequences of any errors or omissions. Neither the Company nor its advisers accept any liability for any direct or indirect or consequential loss or damages of any kind resulting from any use of this website or any information contained in it. The Company accepts no responsibility for any contravention of applicable securities laws and regulations by persons as a result of false information provided by such persons.

There is no guarantee that the Offering will occur and you should not base your financial decisions on the Company’s intentions in relation to the Offering at this stage. These Materials do not constitute a recommendation concerning the Offering. Acquiring shares to which These Materials relate may expose an investor to a significant risk of losing the entire amount invested. Persons considering investment should consult an investment advisor or an authorized person specializing in advising on such investments.

Certain information in these Materials is of a historical nature and may be out of date. All historical information should be understood to speak from the date of its publication. Actual results and developments may be materially different from any opinion or expectation expressed in these Materials. In addition, past performance is no guide to future performance, whether of the Company or its securities.

Certain statements contained in the Materials available on this part of the website constitute forward-looking statements. By their nature, forward-looking statements involve a number of risks, uncertainties and assumptions that could cause actual results or events to differ materially from those expressed or implied by the forward-looking statements. These risks, uncertainties and assumptions could adversely affect the outcome and financial effects of the plans and events described herein. Forward-looking statements contained in these Materials that reference past trends or activities should not be taken as a representation that such trends or activities will necessarily continue in the future. You should not place undue reliance on forward-looking statements, which speak only as of the date of the relevant document.

The international offering circular prepared in connection with the Offering is the sole legally binding document containing information about the Company and the Offering outside of the Kingdom of Saudi Arabia. In the event of any discrepancy between these Materials and the international offering circular, the international offering circular will prevail. Copies of the international offering circular will, following publication, be available from the Company’s registered office and its website at https://www.tadawulgroup.sa/.

These Materials have been made available to you in an electronic form. You are reminded that materials transmitted via this website may be altered or changed during the process of electronic transmission and consequently the Company does not accept any liability or responsibility whatsoever in respect of any difference between the materials distributed to you in electronic format and any hard copy version. By accessing these Materials, you consent to receiving it in electronic form.

You are responsible for protecting against viruses and other destructive items. Your receipt of these Materials via electronic transmission is at your own risk and it is your responsibility to take precautions to ensure that it is free from viruses and other items of a destructive nature.

Confirmation of understanding and acceptance of disclaimer

By clicking on the "I AGREE" button, I

  • warrant that I
    • am not located in the United States and am not resident or located in Australia, Canada, Japan, the Republic of South Africa or any other jurisdiction where accessing these materials is unlawful, or
    • am resident or located in the United Kingdom and:
      • a "qualified investor" as defined in Article 2(e) of the Prospectus Regulation as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018, as amended and supplemented (including by the UK Prospectus Amendment Regulations 2019 and Financial Services and Markets Act 2000 (Prospectus) Regulations 2019); and
      • a Relevant Person, meaning (a) persons who have professional experience in matters relating to investments falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the “Order”); (b) high net worth entities falling within Article 49(2)(a) to (d) of the Order; or (c) other persons to whom it can otherwise lawfully be distributed; or
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