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The sources said so Suleiman group He plans to invite investment banks early next year to apply for roles in a potential public offering of shares.
They added that the deliberations are still at an early stage and it was not immediately clear how much the company intends to invest in shares or raise funds in the deal.
I went in Saudi IKEA It was founded in 1983 by the family-owned Al-Sulaiman group, which owns and operates the franchise of a Swedish furniture manufacturer in Saudi Arabia and Bahrain.
Saudi Arabia is encouraging more family-owned businesses to go public in an effort to revive capital markets as part of reforms aimed at reducing the kingdom’s dependence on oil revenues.
The kingdom has seen a boom in initial public offerings since the giant oil company went public Aramco In a record price of $ 29.4 billion in 2019.
The Gulf region is also experiencing an IPO boom, with issuers raising over $ 15 billion in IPOs this year, according to Refinitiv data.
Data showed that IPO yields in the region in the first half of the year outpaced those in Europe, although global market volatility continued due to the Russian-Ukrainian crisis.
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The sources said so Suleiman group He plans to invite investment banks early next year to apply for roles in a potential public offering of shares.
They added that the deliberations are still at an early stage and it was not immediately clear how much the company intends to invest in shares or raise funds in the deal.
I went in Saudi IKEA It was founded in 1983 by the family-owned Al-Sulaiman group, which owns and operates the franchise of a Swedish furniture manufacturer in Saudi Arabia and Bahrain.
Saudi Arabia is encouraging more family-owned businesses to go public in an effort to revive capital markets as part of reforms aimed at reducing the kingdom’s dependence on oil revenues.
The kingdom has seen a boom in initial public offerings since the giant oil company went public Aramco In a record price of $ 29.4 billion in 2019.
The Gulf region is also experiencing an IPO boom, with issuers raising over $ 15 billion in IPOs this year, according to Refinitiv data.
Data showed that IPO yields in the region in the first half of the year outpaced those in Europe, although global market volatility continued due to the Russian-Ukrainian crisis.
