Riyadh – Mubasher: BinDawood Group’s retail unit plans to go for an initial public offering (IPO) earlier in 2020, Bloomberg reported.
The Saudi-based group is working with Goldman Sachs Group Inc. and JPMorgan Chase & Co. to sell shares of its supermarket business.
Moreover, it selected GIB Capital for the deal, which could value the business at more than SAR 7 billion ($1.87 billion), sources told Bloomberg.
“The group started preparations earlier this year to list the company that operates the BinDawood and Danube supermarkets and hypermarkets,” the news agency said.
