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Thu 31 Dec 2015 02:00 PM

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Saudi stock market says aiming for IPO in 2018

Gulf kingdom's stock market is largest in the Gulf region; has a market capitalisation of $418.5bn

Saudi stock market says aiming for IPO in 2018
(Getty Images)

Saudi Arabia's Tadawul stock market said on Thursday that it planned to launch its own initial share sale in 2018.

The initial public offering will be launched after the readiness exercise is completed and necessary approvals are obtained, it said in a bourse statement.

The kingdom's stock market, by far the largest in the Gulf Arab region with a market capitalisation of 1.57 trillion riyals ($418.5 billion), said in 2014 that it was looking to go public.