Saudi Arabia's BinDawood Holding to delay IPO retail offering

Credit: REUTERS/AHMED YOSRI

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).

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)

((Hadeel.AlSayegh@thomsonreuters.com; +971566883310;))

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