Nahdi Medical seeks SAR 4.9 bln in IPO, hires 2 lead managers: Report

Logo of Nahdi Medical Co.

Saudi Arabia’s Nahdi Medical Co. seeks about SAR 4.9 billion ($1.3 billion) through a potential initial public offering (IPO), Bloomberg reported, citing sources familiar with the matter.

The Kingdom's largest pharmacy retail chain appointed HSBC Saudi Arabia and SNB Capital to manage the sale of a 30% stake on the Saudi stock market, the sources said, adding that the company seeks a valuation of around SAR 16 billion ($4.3 billion) in the IPO.

In December 2021, the Capital Market Authority (CMA) approved Nahdi's application to float 39 million shares, representing 30% of its share capital, Argaam earlier reported.

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