Saudi retailer BinDawood asks banks to pitch for IPO - sources - Reuters:
Saudi Arabian retailer BinDawood Group has asked banks to pitch for roles in a potential initial public offering (IPO) of its supermarket business, two sources told Reuters, in a deal which may raise around 1.5 billion riyals ($399.9 million).
The group, which owns the Danube and BinDawood supermarket brands, has hired Moelis as an independent financial advisor, said the sources, who declined to be named because the talks are private.
The group aimed to appoint two joint global coordinators, one local and one international, and wanted to list on the Riyadh stock market at the beginning of 2020, the sources said.
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