BinDawood Holding reportedly sets IPO price

RetailME Bureau

Saudi Arabia-based grocery retailer BinDawood Holding reportedly sets IPO price, indicates Reuters. The BinDawood Holding has set an indicative price for its IPO, intending to raise SAR2.19 billion ($585 million) in a Riyadh listing.

According to Reuters, the company plans to offer 22.86 million existing shares. As BinDawood Holding reportedly sets IPO price, the retail group plans to sell 20% of the company through the sale of existing shares.

Operating BinDawood and Danube stores as well as Danube Online, the BinDawood Group reported a significant spike in demand during the COVID-19 pandemic, especially during the lockdown in the Kingdom.

 

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