Bateel International mulls Tadawul IPO: Report

Bateel International LLC’s logo; the company contemplates floating its shares on Tadawul, as reported by Bloomberg

Saudi Arabia’s gourmet food producer and restaurant chain Bateel International LLC is exploring an initial public offering for its shares on the Saudi Exchange (Tadawul), Bloomberg reported.

The company is working with Morgan Stanley on a potential listing and has approached local lenders about roles in the transaction, it added.

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The discussions are at an early stage, and details such as the size or timing of any offering have not yet been decided, the agency said.

According to data available with Argaam, Bateel launched its first branch in Riyadh in 1991. It owns date farms in Al-Ghat Governorate, with several stores located in Riyadh, Jeddah, Al-Khobar, Dubai, Jordan, London, Abu Dhabi, Kuwait, Egypt, Singapore, etc.

Bloomberg reported, in July 2024, that L Catterton, the private equity firm backed by French luxury group LVMH, was looking to sell its 20% stake in Bateel. It also said that Bateel’s biggest shareholder Al Sudairi family might also sell part of its stake in the company.