Shariah-compliant Nayifat Finance to proceed with IPO on Saudi stock exchange
Shariah-compliant non-bank financial institution Nayifat Finance is planning an initial public offering (IPO) on the main market of Tadawul, the Saudi stock exchange.
The Riyadh-based company will offer 36.5 million shares, equivalent to 30.041 percent of its share capital.
Net proceeds from the IPO will go towards company expansion, the company said in a statement on Monday.
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