Saudi Grocer Bindawood Offers Investors Chance to Cancel Bids After Loan Disclosure

Saudi Grocer Bindawood Offers Investors Chance to Cancel Bids After Loan Disclosure

Saudi Arabia's BinDawood Holding Co. is giving institutional investors the chance to amend or cancel their IPO bids after disclosing 284 million riyals ($76 million) in loans to related parties.Institutional investors will have until Oct. 5 to make changes, BinDawood said in an update to the intial public offering prospectus released Thursday. Under the original timeline, the institutional offering period closed on Sept. 22 and the final allotment should have taken place on Oct. 1. A planned offering to retail investors will