Billionaire Saudi Family to Hire Saudi Fransi for IPO - Bloomberg:
"Saudi Arabia’s billionaire Olayan family, which runs one of the nation’s biggest conglomerates, hired Saudi Fransi Capital as financial adviser for the planned share sale of some of its local assets, according to people familiar with the matter. Olayan Financing Co., which controls the family’s investments in the Middle East, may set up a new holding company for as many as 20 of its units, which could be worth as much $5 billion, two of the people said, asking not to be identified as the information is private. Shares in the holding company would be sold to the public and listed on Saudi Arabia’s Tadawul stock exchange, the people said."
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