Saudi Arabian supermarket retailer BinDawood Holding set an indicative price for its initial public offering, seeking to raise as much as 2.19 billion riyals ($585 million) in a Riyadh listing.
The company plans to offer 22.86 million existing shares at an indicative pricing of between 84 riyals to 96 riyals per share in the planned IPO, according to a regulatory filing on Sunday. It will sell 20% of the company through the sale of existing shares.
BinDawood's IPO marks another major listing for Saudi Arabia's bourse, as companies tap into Saudi demand for shares since oil giant Aramco'sThe bookbuilding period for institutional investors will take place between Sept. 13-22, the filing said. The subscription period for retail investors will take place between Sept. 27-29. Allocations of the shares will take place on Oct. 1.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Judge orders testimony from Saudi officials in suit over involvement in 9/11 attacksOn the eve of the anniversary of the 9/11 attacks, a federal judge directed the Saudi Arabian government to make as many as 24 current and former officials available for depositions about their possible knowledge of events leading up to the airplane attacks of Sept. 11, 2001.
Read more »
Ethiopians in Saudi detention centre plead for helpEthiopians have long looked to Saudi Arabia as an escape from poor economic prospects and state repression, hoping to find work despite not having legal status.
Read more »
Dozens of Saudi officials may be witnesses in 9/11 lawsuit
Read more »
Why a visit by a Saudi official to New Jersey is now part of the 9/11 investigationAdvocates for 9/11 victims are asking whether the trip — and $1 million donation — are linked to the deadliest terror attack on American soil, which took place 19 years ago.
Read more »
The New Geopolitics of EnergyChina stands to gain the most from the energy transition ahead, writes DanielYergin. For the U.S., navigating the world’s new energy map will require significant choices.
Read more »