Saudi Arabia's BinDawood Holding to delay IPO retail offering
DUBAI, Sept 24 (Reuters) - Saudi Arabia's BinDawood Holding said on Thursday a development relating to the supermarket retailer which requires disclosure in a supplementary prospectus would result in a delay of the retail part of a planned initial public offering (IPO).
BinDawood Holding said a supplementary prospectus, to be approved by the Capital Market Authority, will contain "certain additional information regarding, among others, the institutional book-building and the retail offering period, which will no longer begin on September 27."
The company and the joint financial advisers expect to provide updates next week, BinDawood said in a statement on its website.
(Reporting by Hadeel Al Sayegh; editing by Jason Neely)
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.