Riyadh – Mubasher: Saudi Olayan family has appointed HSBC to manage the 30% sale of its subsidiary Health Water Bottling Co, Bloomberg reported.

Olayan plans to list the unit's shares on the Saudi Stock Exchange (Tadawul) by the beginning of 2018, sources added to the news agency.

In March, Olayan had announced that it considers selling some of its local assets in the Kingdom or offering them up for subscription, while in May, the family announced appointing Banque Saudi Fransi to manage the initial public offering (IPO) of some of its local assets in the KSA.