Saudi Arabia Supermarket Chain Said to Plan Share Sale Next Year - Bloomberg:
Saudi Arabian retailer BinDawood Group is planning an initial public offering of its supermarket business as early as next year, according to people with knowledge of the matter.
The group has started preliminary work to list the holding company that manages its supermarkets and hypermarkets, said the people, asking not to be identified because the information is private.
BinDawood may list the shares on the Saudi stock exchange and an IPO would allow Bahrain’s Investcorp Bank BCS to exit its minority stake in the firm, one of the people said. The company hasn’t hired financial advisers and may decide not to proceed with a deal, the people said.
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