Commercial Growth Development Co. is planning to sell 64 million shares in Saudi-listed BinDawood Holding Co., Bloomberg reported.

The share sale amounts to a 5.6% stake in the supermarket retailer, the report said.

Goldman Sachs Saudi Arabia and SNB Capital Company have been appointed to handle the deal, the news agency.

Bahrain’s Investcorp acquired a 7% equity stake in Dawood Holding through its associated Commercial Growth Development in 2016, according to BinDawood Holding’s IPO prospectus issued in 2020.

The Saudi retailer started trading on the main market (Tadawul) on Oct. 21, 2020.

(Editing by Seban Scaria seban.scaria@lseg.com)