BinDawood Holding, Supreme Foods to go public in H1 2020, sources say

Saudi-based family-owned companies, BinDawood Holding and Supreme Foods, are expected to go public in 2020, Reuters reported, citing sources.

BinDawood Holding, which aims to raise SAR 1.5 billion ($400 million), is expected to list on the Saudi Stock Exchange (Tadawul) around the end of the first quarter of this year or early in the second quarter.

The retailer, which owns the Danube and BinDawood supermarket brands, has hired Goldman Sachs, JP Morgan Chase, NCB Capital and GIB to organize the deal, the sources said, with Moelis & Co as a financial adviser.

Supreme Foods, which produces processed and cooked meat in 3 factories, plans to list in the second quarter and raise SAR 300 million to SAR 400 million. The company has hired Saudi Fransi Capital to manage the deal, according to the sources close to the deal.

According to the data compiled by Argaam, BinDawood Holding operates 28 BinDawood Supermarkets and 42 Danube branches across the Kingdom.

Supreme Foods is part of TANMIAH Foods Group (TFG) by Al Dabbagh Group Holding Co. and operates 3 factories (2 in KSA and 1 in the UAE).

Meanwhile, in October 2019, the Capital Market Authority (CMA) approved an initial public offering (IPO) of Dr Sulaiman Al Habib Medical Group, one of the Middle East’s biggest hospital operators. The company plans to offer 52.5 million shares, representing 15% of its share capital.