The Clap
Jadwa Investment, the leading investment management and investment advisory company in the Middle East, has waived its entire 30% stake in Luberef through an IPO of its shares on Tadawul.
What
Jadwa intends to invest about SAR 2bn ($532mn) in new private equity deals.
It will also include stakes in three companies from its portfolio in the market by 2025, as it seeks to benefit from the rapid economic growth in the region.
So What
Luberef is the latest IPO worth more than $1 billion in the oil-rich Gulf region, coming at a period when investors usually avoid risk.
Trading on the stock will start on Wednesday in the Saudi Tadawul with the trading code (2223).
Now What
The Luberef deal represents the eighth exit from private equity, raising the total distributions of the private equity company to its clients to SAR 11bn.
