KSA's Kingdom Holding 'to float in June 2007'

Although the Kingdom Holding floatation has been mooted as 'imminent' for some months, this is the first solid indication of timings in what will be one of the region's most hotly anticipated and sought-after offerings.

Prince Alwaleed bin Talal told MEED's managing editor Richard Thompson: "The objective is to be a publicly traded company before the end of this quarter," adding, "It is an eye-opener for all the world to think, 'wow, that company is in Riyadh'."

The news that one of the world's leading private investment houses is to be listed on the Tadawul - the Saudi bourse - will significantly raise the profile of the Kingdom's profile as a regional, rather than merely national financial centre. It will also make a major contribution to restoring investor confidence in the bourse, which has been subject to corrections over the last 16 months.

MEED's editor-in-chief Sean Brierley commented,
"This is one of the most significant moves to be made by Prince Alwaleed bin Talal - a man who has already become renowned across the globe for his astute investments and business acumen. The floatation of Kingdom Holding will have a major impact, not just within Saudi Arabia, but across the region's bourses. We are delighted that MEED has once more proved its strengths and vision in delivering business intelligence and market data to the region."

Kingdom Holding is the single biggest shareholder in Citigroup and also owns shares in News Corporation, Apple, Four Seasons, Disney, PepsiCo and eBay.