CMA approves BinDawood Holding’s IPO

30/06/2020 Argaam

The Capital Market Authority (CMA) approved today, June 30, the listing of a 20% stake, or 22.86 million shares of BinDawood Holding Company.

 

The company’s prospectus will be published within sufficient time ahead of the IPO, the market regulator said in a statement.

 

The prospectus includes all relevant information that the investor needs to know before making an investment decision, including the Company's financial statements, activities, and management.

 

In addition, the approval on the offering is valid for six months as of today and will be cancelled if the offering and listing of the company's shares are not completed within this period.

 

According to data compiled by Argaam, BinDawood Holding operates two retail brands, with 27 BinDawood stores and 46 Danube branches. The total workforce stands at 10,000.

 

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