Saudi Perfume Retailer Arabian Oud Enlists Banks for IPO
Arabian Oud was established in 1982 with more than 1200 branches.
KSA’s perfumer retailer Arabian Oud has named banks ahead of its anticipated initial public offering (IPO), according to a Bloomberg report.[1]
Arabian Oud has named Emirates NBD Capital and SNB Capital for its potential IPO. The timing and valuation of the IPO are still under discussion, according to the report.
Arabian Oud was established in 1982 with more than 1200 branches.
This year, Saudi IPOs have seen overwhelming investor interest, including the Saudi Manpower Solutions Company (Smasco) which garnered over $30 billion in orders earlier this month. At the same time, Dr. Soliman Abdel Kader Fakeeh Hospital Company, known as Fakeeh Care Group’s (FCG), IPO attracted $91 billion in orders, one of the highest figures for Saudi IPOs raising over $500 million.
Saudi Arabian Rasan Information Technology Co. has attracted significant investor interest for its initial public offering (IPO), amassing orders worth approximately $29 billion. The IPO was 129.1 times oversubscribed.
Notably, Saudi Aramco's record IPO in 2019 drew $105.85 billion in orders from fund managers.