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    1180   SA13L050IE10

THE SAUDI NATIONAL BANK

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Saudi Tadawul Group narrows banks for IPO process -sources

04/21/2021 | 09:08am EDT

DUBAI, April 21 (Reuters) - Saudi Tadawul Group has short-listed three local and three foreign banks for potential advisory roles in the financial market company's upcoming initial public offering (IPO), three sources said.

Citigroup, JPMorgan and Morgan Stanley were chosen, along with the securities unit of Saudi National Bank, Saudi Fransi Capital and HSBC Saudi Arabia, the sources said.

Tadawul, the kingdom's bourse operator, is expected to chose one local bank and potentially one or two international banks for its listing, they said. A final round of pitching for roles is taking place this week, they added.

Tadawul did not immediately respond to a request for comment when contacted by Reuters on Wednesday. Citigroup, JPMorgan, Morgan Stanley and HSBC declined to comment. The units of Saudi National Bank and Saudi Fransi Capital were not immediately available for comment.

Tadawul said earlier this month it had received proposals from 10 local and international firms for the advisory roles.

Saudi Arabia's stock exchange has converted itself into a holding company and will be renamed Saudi Tadawul Group ahead of the listing this year, Group Chief Executive Khalid al-Hussan said previously.

The group will have four subsidiaries - its bourse Saudi Exchange, securities clearing and depository businesses and technology services. (Reporting by Hadeel Al Sayegh and Saeed Azhar; Editing by Kirsten Donovan)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
BANQUE SAUDI FRANSI 0.12% 40.6 End-of-day quote.28.48%
CITIGROUP INC. -0.06% 69.96 Delayed Quote.13.46%
HSBC HOLDINGS PLC 1.94% 376.05 Delayed Quote.-0.74%
JPMORGAN CHASE & CO. -0.26% 157.68 Delayed Quote.24.41%
MORGAN STANLEY -0.70% 101.75 Delayed Quote.48.48%
THE SAUDI NATIONAL BANK 0.00% 61.5 End-of-day quote.41.87%
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Analyst Recommendations on THE SAUDI NATIONAL BANK
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Financials
Sales 2021 30 403 M 8 109 M 8 109 M
Net income 2021 12 659 M 3 376 M 3 376 M
Net Debt 2021 - - -
P/E ratio 2021 21,7x
Yield 2021 2,65%
Capitalization 273 B 72 758 M 72 760 M
Capi. / Sales 2021 8,97x
Capi. / Sales 2022 8,23x
Nbr of Employees 13 334
Free-Float 49,6%
Chart THE SAUDI NATIONAL BANK
Duration : Period :
The Saudi National Bank Technical Analysis Chart | 1180 | SA13L050IE10 | MarketScreener
Technical analysis trends THE SAUDI NATIONAL BANK
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 12
Last Close Price 61,50 SAR
Average target price 62,90 SAR
Spread / Average Target 2,28%
EPS Revisions
Managers and Directors
Faisal Omar Al-Sakkaf Chief Executive Officer
Lama Ahmed Ghazzaoui Chief Financial Officer & Head-Strategy
Saeed bin Mohammed Al-Ghamdi Chairman
Omar Mohammed Hashem Group Head-Digital & Technology
Fuad Abdullah Al-Harbi Head-Compliance
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THE SAUDI NATIONAL BANK41.87%72 758
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