Riyad Bank Greenlights IPO Plans for Investment Banking Unit Riyad Capital 🇸🇦

Saudi Arabia’s Riyad Bank has given the green light for the evaluation and preparation of an initial public offering (IPO) for its investment banking arm, Riyad Capital. The bank’s board of directors is contemplating listing Riyad Capital on the main market of the Saudi Exchange, as per a statement from Tadawul. Riyad Bank and Riyad Capital will collaborate to finalize the assessment and related measures, including determining the offering size and other details. However, the IPO remains contingent on regulatory approvals should Riyad Bank opt to proceed with the offering.