Saudi Hardware gets approval to go public on April 22

25/03/2015 Argaam
 
The Capital Market Authority (CMA) gave Saudi Company for Hardware (SACO) the go ahead to float 30 percent of its capital, or 7.2 million shares in an initial public offering (IPO) on April 22. 
 
The offering will run until April 28, upon completion of the book-building process. 
 
Shares will be allocated for funds and authorized individuals. 
The prospectus will be issued within sufficient time to participants, the bourse regulator added. 
 
Incorporated in 1985 as a hardware retailing and wholesaling business, SACO has 20 retail stores across 12 cities in Saudi Arabia. The company employs over 1,900 people and features more than 45,000 hardware items. 

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