Saudi food giant Almunajem picks HSBC for IPO, plans to list 30%
- Date: 11-Nov-2021
- Source: Salaam Gateway
- Sector:Financial Markets
- Country:Saudi Arabia
Saudi food giant Almunajem picks HSBC for IPO, plans to list 30%
Published 11 Nov,2021 via Bloomberg Markets–Almunajem Foods Co., one of the largest Saudi food companies, has appointed HSBC Holdings Plc as adviser to manage its initial public offering.
Riyadh-based Almunajem, which specializes in the import and distribution of food in the kingdom, will list a 30% stake, representing 18 million shares, according to a statement on Thursday. The announcement confirmed a Bloomberg News report this week on the listing plans.
Almunajem supplies foodstuffs to more than 22,000 outlets, including retail, food services, and wholesale channels, according to its website.
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