Riyadh, The Saudi Stock Exchange (Tadawul) today announced its transformation into a holding company named Saudi Tadawul Group, and reinforcing its capabilities in technology innovation. This transformation marks a new chapter in the Group’s history and signals its readiness for the IPO in 2021.
The Saudi Tadawul Group will become the parent company with a portfolio of four subsidiaries: the Saudi Exchange, a dedicated stock exchange business (previously known as the Saudi Stock Exchange Company – Tadawul), the Securities Clearing Center Company (Muqassa), the Securities Depository Center Company (Edaa) and Wamid – a new innovative applied technology services business, focused on providing innovation and nascent technologies to the capital markets industry through pragmatic innovation.
The Group will benefit from the integration and synergies between its subsidiaries, ensuring efficient intra-group operations across the organization. The operational independence of each subsidiary will create an agile environment supporting rapid responses to evolving global and local market trends.
Source: Saudi Press Agency