Saudi Arabia's Ades to List as Riyadh's Biggest 2023 IPO

The transcript discusses Saudi Arabia's push to advance its IPO slate, particularly in the oil and gas sector, with the Public Investment Fund (PIF) bringing a major driller to market. Although the exact amount to be raised is undisclosed, it is expected to be around a billion dollars, making it one of the largest IPOs of the year in Saudi Arabia. The government appears optimistic about the market's ability to handle large listings, with other companies like Aramco potentially considering offerings. This indicates a positive outlook for the rest of the year.

What is Saudi Arabia trying to achieve in relation to the UAE?

• Develop a better education system

• Catch up with the UAE in IPOs

• Surpass the UAE in tourism

• Increase oil production beyond the UAE

Which entity invested in the oil and gas driller coming to market?

• A private Saudi investor

• The Saudi sovereign wealth fund

• The Saudi government

• Saudi Aramco

How much is the oil and gas driller expected to raise in its IPO?

• Around $500 million

• Around $3 billion

• Around $2 billion

• Around $1 billion

What is the general sentiment of the Saudi government regarding the market's ability to handle listings?

• Pessimistic

• Uncertain

• Neutral

• Positive

What is expected to happen in the Saudi market for the rest of the year?

• Increased momentum in listings

• A shift towards smaller listings

• Stagnation in market activity

• A decline in IPOs