Saudi School Operator Al-Motaqadimah Hires Advisers for IPO - Bloomberg:
Saudi Arabia’s Al-Motaqadimah Schools Co. hired GIB Capital and Adeem Capital as financial advisers to prepare for an initial public offering, joining a flurry of IPOs in the kingdom.
The IPO will allow the education provider to expand its operations, according to a statement. Al-Motaqadimah operates 21 schools across the kingdom.
The potential listing comes as businesses from grocery stores to car rental companies look to sell shares on the Saudi stock market, buoyed by a surge in demand. The IPO of BinDawood Holding Co., one of Saudi Arabia’s largest grocery chains, this month was 49 times oversubscribed.
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