BinDawood Holding Co. is set to sell shares at top price range for its initial public offering. The offer was priced at 96 riyals ($25.59) a share, the company said on Wednesday. BinDawood is set to raise about SR2.19 billion from the listing and will be valued at just under SR11 billion.
In other news, Saudi Arabia has become the first Arab country to make and circulate plastic banknotes. The Saudi Arabian Monetary Agency announced the launch of a five-riyal note of the Saudi currency made of polymer, which was circulated as of Monday.
To read about this and more of the week’s news from the Kingdom, click here.
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