Saudi sovereign wealth fund PIF reduces majority stake in local stock exchange operator

Saudi sovereign wealth fund PIF reduces majority stake in local stock exchange operator

Riyadh, Saudi Arabia. Photo by Hala AlGhanim on Unsplash

Saudi Arabia’s Public Investment Fund has sold a 10% stake in stock exchange operator and owner Saudi Tadawul Group through a secondary share offering, raising 2.3 billion riyals ($612 million), it said in a statement on Sunday.