Bin Dawood Holding Company is seeking to offer its shares on the Saudi Stock Exchange, to be the first offering in the Middle East region since the outbreak of the Corona virus crisis.
According to Arabia Net, the company, which operates 73 stores under the brand David and Danube, is planning to offer its shares on the Saudi Stock Exchange by the end of July to take advantage of the increased demand for The products are online at their stores under the precautionary measures to tackle the Coronavirus in the Kingdom, according to informed sources quoted by Bloomberg.
The sources said that no final decision has been taken yet regarding the offering and its timing, while the company refused to comment on this matter.
This offering will be the first on the Saudi Stock Exchange since the launch of the Sulaiman Al Habib Group last February, which raised 2.63 billion riyals, after it was covered 83 times. p>
Bin Dawood began working with Goldman Sachs, GB Morgan, and GB Capital on the IPO, sources said last October. . Molise & Co is the economic advisor for the offering.
The company is currently hoping to offer its shares mainly to local investors, to follow through on the latest offers in the market, namely Aramco and Sulaiman Al Habib Group.
