Saudi Exchange Tadawul is said close to IPO at $4b value

RIYADH. Saudi Arabia’s stock exchange is close to announcing plans for a long-awaited initial public offering that could value it at as much as $4 billion, according to sources.

Tadawul, as it is known, may publish details of its IPO as soon as this month, the sources said. Deliberations are ongoing and no final decisions on time frame have been taken, they said.

A representative for Tadawul declined to comment. (Bloomberg)