Commercial Growth Development plans to exit BinDawood Holding: Report

05/09/2024 Argaam
Logo ofBinDawood Holding Co.

Logo of BinDawood Holding Co.

Commercial Growth Development Co. plans to sell its 64 million shares in BinDawood Holding Co., representing about 5.6% of the company’s total shares, Bloomberg reported.

 

Goldman Sachs Saudi Arabia and SNB Capital are managing the sale process, the report said.

 

According to the data available on Argaam, Commercial Growth Development owns 64.01 million shares in BinDawood Holding, representing 5.6% of the company’s 1.14 billion shares.

 

The company, an associate of Bahrain’s Investcorp, purchased a 7% stake in BinDawood Holding in 2016. Its stake fell to 5.6% following BinDawood Holding’s floatation in 2020.

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