Saudi Arabian investors rush to buy BinDawood IPO on day one

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By Sam Kerr
14 Sep 2020

The IPO of BinDawood, the Saudi supermarket operator, has made off to a fast start with banks covering the deal throughout its price range the day it opened books, driven by strong local demand.

GIB Capital, Goldman SachsJP Morgan and NCB Capital are the bookrunners.

The company is seeking to sell 22.86m shares at Sr84-Sr96 ($22.39-$25.59) each on Saudi Arabia’s Tadawal stock exchange, making the offer size Sr1.9bn-Sr2.2bn.

The company expects to have a freefloat of 20% once pricing is completed.

The ...

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