RIYADH: Riyadh Cables Group eyes raising $400 million through an initial public offering of its shares on Saudi Arabia’s stock exchange, Bloomberg reported citing people familiar with the matter.
The Saudi cable producer is in talks with Riyad Capital and Himmah Capital about a potential listing this year, the people said.
The firm, founded in 1984, initially planned to float in 2015 when the country opened its stock market to international investors. It is owned mostly by Saudi Arabia’s Al-Zaim family.