Riyad Bank says Riyad Capital IPO ‘under assessment’

Riyad Bank’s board of directors approved on April 3 to start assessment and preparation of a possible initial public offering (IPO) of its subsidiary, Riyad Capital for listing on the Saudi Exchange (Tadawul), according to a statement to Tadawul.

Riyad Bank and Riyad Capital will coordinate to finalize the assessment as well as the relevant measures including determining the offering size as well as the other related details.  If they decide to proceed with the offering, the IPO will also be subject to the relevant regulatory approvals.

Any material developments in this regard will be announced in due course, in accordance with the applicable regulations, the statement added