Saudi Management Consultancy TAM Eyes Listing in First Half

Saudi Arabia-based management consultancy TAM Development Co. is planning an initial public offering later this year, in a test of whether investor demand for new share sales will carry through from last year.

TAM is planning to list on the Kingdom’s small cap market, co-founder and Chief Executive Officer Abdullah Yousef said in an interview. It will look to be upgraded to the main exchange within two years, he said. The consultancy derives most of its revenue from advising the Saudi government and government-related entities linked to its sovereign fund, the Public Investment Fund.