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BinDawood Holding's IPO priced at SAR 96 per share

BinDawood Holding's IPO priced at SAR 96 per share
The book-building process generated an order book of SAR 106.9 billion.

Riyadh – Mubasher: BinDawood Holding has priced its initial public offering (IPO) at SAR 96 ($25.59) per share, Reuters reported on Wednesday citing the company as saying.

The book-building process generated an order book of SAR 106.9 billion ($28.50 billion).

Subscriptions came from public funds, private funds and discretionary portfolios, non-Saudi investors and other investors, which include government institutions, private companies, and financial institutions.

Earlier, the supermarket retailer set an indicative price for its IPO, aiming to raise SAR 2.19 billion in a Riyadh listing, as it plans to offer 22.86 million existing shares at indicative pricing of between SAR 84 to SAR 96 per share in the planned IPO.

BinDawood Holding owns the BinDawood and Danube retail chains and manages 73 hypermarkets and supermarkets in major Saudi cities, including Makkah, Medina, Jeddah, Riyadh, and Dammam.