Rachel Ziemba, founder of New York-based geo-economic advisory firm Ziemba Insights, was more hesitant and said it was too soon to determine the impact a raft of new PIF-backed IPOs would have on the Tadawul stock exchange.
“At present, it remains unclear whether there is sufficient demand for these listings, especially given the relatively limited liquidity on the local market.
“Much depends on the terms. I’d be watching whether there are large anchor buyers (sovereign funds from Asia or other institutional investors) or whether it is primarily a local audience,” she said.
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