 "Saudi Stock Exchange")
Saudi Tadawul Group surged on its trading debut after the stock exchange raised $1 billion, marking the biggest exchange IPO since Euronext went public in 2014.
The shares rose as much as 22% on Wednesday on bets that buoyant Middle East stock markets will attract more listings from private companies and cash from investors around the world.
The pipeline for IPOs in the kingdom is “deeper than ever,” Chief Executive Officer Khalid al Hussan said in an interview with Bloomberg Television. “It will be even better next year,” he said, adding that technology, health care and education companies are among the newcomers
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