BinDawood said to seek as much as $580 million from Saudi IPO
Published 12 Sep,2020 via Bloomberg Markets - BinDawood Holding Co., one of Saudi Arabia’s largest grocery chains, has set a range of 84 to 96 riyals ($22-$26) per share for its initial public offering this month, according to two people familiar with the matter.
That would imply a valuation of 9.6 billion to 11 billion riyals ($2.6 billion to $2.9 billion) for the company, which seeks to sell a 20% stake. The price range is expected to be announced Sunday, the people said.
A spokesman for the company declined to comment.
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Abbas Al Lawati and Matthew Martin