Biggest Saudi pharma firm Nahdi said to be in IPO talks 

  • 7/7/2020
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RIYADH — Nahdi Medical Co., the largest pharmacy retail chain in Saudi Arabia, is weighing an initial public offering (IPO) and has begun early talks with potential advisors, two sources familiar with the talks said. Nahdi, founded by Abdullah Amer Al Nahdi in 1986, the Saudi equivalent of British health retailer Boots, has a network of more than 1,100 pharmacies. It is 50 percent owned by Jeddah-based Islamic investment firm Sedco Capital, according to a Reuters report which cited information on the company"s website. The company is in early talks with advisors for its public share sale, which could happen next year, said the sources, declining to be named as the matter is not public. — SG

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