Riyad Bank of Saudi Arabia is exploring an initial public offering (IPO) for its investment banking division, partnering with JPMorgan Chase & Co. for this venture, as per insider sources.
The IPO for Riyad Capital might occur by mid-2025, with an estimated valuation of $2.5 billion. However, specifics such as the offering size and precise timing are yet to be finalized, according to those familiar with the discussions.