NCB Capital, the lead manager of the potential initial public offering of BinDawood Holding Company, announced BinDawood’s intention to proceed with the share sale and listing of its ordinary shares on the Saudi Stock Exchange (Tadawul).

 

The offering is expected to comprise the sale of 20% of the company’s shares, NCB Capital said in a bourse statement.

 

Tadawul approved the company’s application for listing on Tadawul on Feb. 26, 2020. The Capital Market Authority (CMA) green lighted on June 30 BinDawood’s application for floating 22.86 million shares.

 

The offer price will be determined at the end of the book-building period.

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