Saudi Arabia’s Al Dawaa chain of chemists aims to grow its store network, improve its brand image, and grow its e-commerce business, after its imminent $500 million initial public offering, the company’s commercial director has said.
Al-Dawaa ends its book-building process today, with individual subscriptions invited between Feb 27 and March 1
Al-Dawaa currently operates more than 900 pharmacies across 130 cities in the Kingdom, having opened 87 new branches in 2021.
It aims to increase this to at least 1,065 stores by 2025.
The company earlier set the offering price range at SR65 ($17.3) to SR73 per share, aiming to float 30 percent of its SR850 million capital.
Listing represents a chance to “strengthen Al-Dawaa’s brand presence and future growth potential as well as reinforce our commitment to the highest standards of corporate governance,” Fahad Al-Farraj told Arab News.
Al-Dawaa ends its book-building process today, with individual subscriptions invited between Feb 27 and March 1
Al-Dawaa currently operates more than 900 pharmacies across 130 cities in the Kingdom, having opened 87 new branches in 2021.
It aims to increase this to at least 1,065 stores by 2025.
The company earlier set the offering price range at SR65 ($17.3) to SR73 per share, aiming to float 30 percent of its SR850 million capital.
Listing represents a chance to “strengthen Al-Dawaa’s brand presence and future growth potential as well as reinforce our commitment to the highest standards of corporate governance,” Fahad Al-Farraj told Arab News.
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