Saudi Trading Group appointed both Ahli Financial and Citigroup Morgen Stanley as financial and coordinated consultants for the initial public offering before the end of this year.
According to Arab Net, sources told Reuters recently indicated that it is expected to choose a local bank and possibly a global or two to include.
The initial public offering is part of the Saudi trading group strategy for growth and strengthening its position within global markets and in line with the Public Investment Fund Strategy.
The Chief Executive Officer of Saudi Trading Group, Khaled Al Horse, was detected in an interview with Arab seven this month. p>
He explained that trading received requests from 10 licensed financial companies after addressing 12 companies to play an advanced adviser.
The horse also revealed the completion of 4 files for new roads in the market, pointing to receive more than 30 applications for insertion in the Saudi market.
