Saudi stock exchange seeks to raise US$1bil

Huge offering: An investor monitors the market at the Saudi Stock Exchange. The Riyadh-based bourse plans to sell a 30% stake, or 36 million shares. ― AFP

RIYADH: Saudi Arabia is keeping the home fires burning for regional public offerings, readying what could be the biggest sale of shares by a stock-exchange operator since Euronext NV.

Saudi Tadawul Group Holding is seeking to raise as much as US$1bil (RM4.19bil) after setting the price range for an initial public offering (IPO) at 95 riyals (US$25.32 or RM105.98) to 105 riyals (RM117.17) per share, the company said.