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  • Saudi Tadawul Group Holding Company Celebrates the listing and Commencement of Trading on the Saudi Exchange

Press Release Detail

Riyadh, 8 November 2021

Saudi Tadawul Group Holding Company, today celebrated the listing and Commencement of Trading on the Saudi Exchange, following the successful completion of its initial public offering. The Company is now trading under the ticker symbol “1111”.

Chairperson Sarah Al-Suhaimi commented: “The Listing 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 (PIF).”

Khalid Al-Hussan, Chief Executive Officer at Saudi Tadawul Group, said: " Today's announcement marks an important milestone in our journey as we begin life as a listed company and continue to achieve our strategy; as a fully integrated national champion. The Group's listing supports the commitment to best practice corporate governance within the business and the utilization of the subsidiaries' integrated and scalable business model; to be an attractive investment destination for all investors.”

Al Hussan added: “I want to offer my sincere gratitude to the Capital Market Authority for their cooperation during the IPO process, our investors for their trust in Saudi Tadawul Group and its strategy and our working teams who proved that their efforts and dedication could achieve this success.” 

The Saudi Tadawul Group is a key enabler to the pillars of Financial Sector Development Program and the kingdom’s vision 2030. Additionally, the group has a differentiated business model – integrated, scalable and diverse, and strong financial performance characterized by significant growth and increasing margins enables the Company to maintain a well-capitalized balance sheet and underpins its strong dividend potential.

STG floated 36,000,000 shares, representing 30% of its issued share capital. Final allocations were 70% to institutional investors and 30% to individual investors. The IPO saw significant institutional and retail investor demand and was 121x and 4.4x oversubscribed, generating SAR 458 billion and SAR 5.02 billion respectively. The offering shares were priced at SAR 105 per share, at the top of the Company’s initial price range, implying a market capitalization of SAR 12.6 billion at the time of listing.