PIF-Backed Nupco Plans Saudi IPO - Bloomberg
Saudi Arabia’s sovereign wealth fund is exploring an initial public offering of the kingdom’s largest medical procurement firm, Nupco, as early as next year, according to people familiar with the matter.
The firm has held initial discussions with advisers about the potential share sale, the people said, asking not to be identified as the information isn’t public. Details of the IPO such as size and timing are still being considered, the people said.
A representative for the Public Investment Fund declined to comment. A representative for Nupco didn’t respond to requests for comment.
Founded in 2009, Nupco is involved in health-care procurement and the re-exporting, warehousing and distribution of pharmaceuticals, medical equipment and supplies across Saudi Arabia.
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