Saudi Arabian grocery retailer BinDawood Holding will start trading its shares on the Saudi Stock Exchange (Tadawul) on Wednesday.
The company, with a share capital of more than 1.14 billion Saudi riyals, will be listed on the main market under the symbol 4161 and ISIN Code SA 154HG210H6, with a 10 percent daily price fluctuation limit per share, Tadawul said on Tuesday.
Saudi’s third-largest supermarket retailer is offering 22.86 million shares representing 20 percent of the share capital through a public offering at an offer price of 96 riyals per share, according to a company prospectus.
BinDawood is the latest company in the kingdom to capitalise on high investor appetite for shares. Last year, oil giant Saudi Aramco raised $25.6 billion from the sale of three billion shares in its blockbuster IPO last year.
The grocery operator had earlier said the book-building process for its IPO had generated an order book of more than 106 billion riyals ($28.5 billion).
Last June, the company secured the approval from the Capital Market Authority (CMA) to sell 20 percent of its capital.
The company operates more than 70 stores, including premium grocery brand Danube and mid-market grocery chain BinDawood.
(Reporting by Cleofe Maceda; editing by Seban Scaria)
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