BinDawood Holding sets IPO price range

SourceSaudi Gazette
SectorFinancial Markets
CountryUnited Arab Emirates

DUBAI — One of the leading Saudi supermarket retailer BinDawood Holding set price range for its initial public offering (IPO) seeking to raise as much as $585 million (2.19 billion Saudi riyals) in a listing in Tadawul. Immediately following listing, the company is expected to have a free float of 20% of the entire issued share capital of the company.The BinDawood Holding, along with Goldman Sachs Saudi Arabia and J.P. Morgan Saudi Arabia Company as joint financial advisors, announced the float as well as the commencement of the institutional book-building period.The bookbuilding period for more...