Saudi business conglomerate, Kingdom Holding Company (KHC), is considering an initial public offering (IPO) for its real estate business unit on the Saudi stock exchange (Tadawul), according to the company’s chief executive.
“IPO is one of our options as we are trying to monetize part of our real estate business through so many things. We are currently in the process of studying the feasibility for it,” Talal Almaiman, CEO of KHC and board member of the Jeddah Economic Company, told Argaam on the sidelines of the Bloomberg Invest Abu Dhabi summit.
In January 2019, the KHC chief talked about spinning off part of the real estate business, comprising commercial, hospitality and housing activities, in one year.
“Spinning off may not be the right word. In fact, we do have some mature assets that we wish to monetize and recycle the money for new investments,” Almaiman said.
Write to Paromita Dey at paromita.d@argaamplus.com
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