Saudi-based operators of hypermarkets and supermarkets BinDawood Holding Company has completed the retail offering of its Initial Public Offering (IPO) of shares.
Its retail offering was oversubscribed by 1,396%, according to NCB Capital, the lead manager of the offering, with Goldman Sachs Saudi Arabia and J.P. Morgan Saudi Arabia Company, as joint-financial advisors.
Following the completion of the institutional book-building process, the retail offering took place from October 8 to 12, 2020. A total of 324,046 individual investors subscribing to invest SR3.06 billion at the IPO price of SR96 per share, making it oversubscribed by 1,395.91%.
Retail investors started on October 8 subscribing to around 2.29 million shares of BinDawood at SR96 each, after completing the institutional book-building process. The institutional offering was 4,870% oversubscribed.
The company allocated a minimum of 7 shares to each retail subscriber included in the subscription request. The remaining shares have been allocated on a pro-rata basis at around 0.05964%, based on the size of each subscriber’s request compared to the total remaining subscribed shares.
The lead manager will process final allocations and refunds, if any, will be processed no later than October 20, 2020.
The retail offering followed the completion of the institutional book-building process. The book-building process generated an order book of SR106.9 billion.
Since its inception over 50 years ago, BinDawood has grown from a small trading business to one of the leading retailers in Saudi Arabia. The Group’s success story of becoming one of the largest retailers in Saudi Arabia has driven by constant innovation and commitment to building long-term relationships with suppliers, partners and customers.
BinDawood Holding manages two key retail chains – BinDawood and Danube – across 73 hypermarkets and supermarkets in major Saudi Arabian cities, including Makkah, Madina, Jeddah, Riyadh, Khobar, Dammam, Al Ahsaa, Taif, Abha, Khamis Mushait, Jizan, Kharj, Unaiza, Al Jubail and Ha’il. The holding company employs over 10,000 people.
Watsons to open 20 new stores in the GCC
In 2020, global health & beauty retailer AS Watson Group signed its
April 29, 2024 | By Rupkatha BAsda and Deliverect Deepen Partnership to Power Rapid Delivery Across Asda Express
SQUATWOLF’s Kuwait Flagship Store Anchors Its Regional Growth Ambitions
Global beauty icon Ulta Beauty to make Riyadh debut at Panorama Mall
/ 
For decades, Haldiram’s built deep recall across the UAE through its packaged
When House of Habanero opened its first physical location at Alserkal Avenue
Union Coop has completed a significant expansion of its Hatta Souq branch,
Saudi Arabia is set to welcome U.S. food exporters this week, as
Majid Al Futtaim has officially entered the discount retail segment with the
As convenience increasingly becomes currency in the region’s grocery landscape, Union Coop
As wellness becomes a lifestyle in the UAE, the grocery aisle is
Grandiose, one of the leading grocery retailers in the UAE with a
With shifting consumer behaviour, rising cost pressures, regulatory changes, and rapid digitization,
Union Coop’s blend of retail expansion, digital innovation, and community focus is
Abu Dhabi-based MAIR Group has marked a pivotal stage in its transformation
In a move that blurs the line between shopping and investing, Apparel
/ 
Why cinemas, wellness sanctuaries and cultural districts are becoming emotional infrastructure for
For decades, Haldiram’s built deep recall across the UAE through its packaged
When House of Habanero opened its first physical location at Alserkal Avenue
From bullion to boutiques, investment to immersion, Dubai Gold District marks a
Union Coop has completed a significant expansion of its Hatta Souq branch,
Saudi Arabia is set to welcome U.S. food exporters this week, as
Majid Al Futtaim has officially entered the discount retail segment with the
As convenience increasingly becomes currency in the region’s grocery landscape, Union Coop
As wellness becomes a lifestyle in the UAE, the grocery aisle is
Grandiose, one of the leading grocery retailers in the UAE with a
With shifting consumer behaviour, rising cost pressures, regulatory changes, and rapid digitization,
Union Coop’s blend of retail expansion, digital innovation, and community focus is
Previous Article