Bangladesh, July 22 -- The fundraising push comes as Saudi state-backed firms increasingly turn to external investors to support the kingdom's extensive pipeline of infrastructure, tourism, and sporting developments.

ROSHN, owned by Saudi Arabia's Public Investment Fund, has appointed JPMorgan to manage an equity fundraising process for the stadium, two sources said. PIF and ROSHN have also been assessing interest from other private investors, a third source added.

The transaction is expected to use a lease and leaseback structure. Under the proposal, a dedicated vehicle holding the stadium's leasehold would be established, jointly owned by the developer, ROSHN, and participating investors, who would contribute capital upfront.

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