ADES Holding, an oil and gas drilling services provider, is headed to the Saudi stock exchange in an initial public offering of 30% of its share capital in what could be one of the largest IPOs in Saudi Arabia this year. ADES Holding is backed by the Saudi sovereign wealth fund, the Public Investment Fund (PIF), and has ADES Investments Holding and Zamil Group Investment as its major shareholders. The shareholders of the oil and gas driller, which is active in the Middle East and North Africa (MENA) region, now plan to sell 338,718,754 ordinary…
