Saudi Arabia considers public offering to fund Mecca megaproject
INTERNATIONAL Saudi Arabia has asked US investment bank Lazard for ways to fund construction of its $500bn futuristic desert-city Neom, as well as a $27bn megaproject in the holy city of Mecca. Saudi Arabia's Public Investment Fund (PIF) is considering selling debt from the projects and an initial public offering on the Saudi stock exchange. The sovereign wealth fund is chaired by Crown Prince Mohammad bin Salman and has more than $600bn in […]