Saudi Arabia’s BinDawood Holding prices IPO at 96 riyals a share -statement

DUBAI, Oct 7 (Reuters)Saudi Arabian supermarket retailer BinDawood Holding has priced its initial public offering at 96 riyals ($25.59) a share, the company said on Wednesday.

The retailer, which owns the Danube and BinDawood supermarket brands, said the book-building process generated an order book of 106.9 billion riyals ($28.50 billion).

Subscriptions came from public funds, private funds and discretionary portfolios, non-Saudi investors and other investors, which include government institutions, private companies and financial institutions, it said.

“I am very pleased with the exceptionally strong demand we have witnessed for BinDawood Holding shares by institutional investors,” Ahmad Abdulrazzaq BinDawood, Chief Executive Officer, BinDawood Holding was quoted as saying. “We look forward to welcoming a diverse institutional shareholder base, that is committed for the long-term.”

($1 = 3.7508 riyals)

(Reporting by Hadeel Al Sayegh, editing by Louise Heavens)

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