Selling part of its shares in Nahdi marks the group’s first partial exit through a public offering RIYADH: Saudi Investment firm SEDCO has divested 15 percent of its stake in retail pharma chain Nahdi Medical Co. post listing on the Saudi stock exchange. Back in 2003, SEDCO acquired 50 percent of Nahdi, which will now be lowered to 35 percent following the latest move. Selling part of its shares in Nahdi marks the group’s first partial exit through a public offering, it said in a statement. “SEDCO Holding has been a committed strategic partner with Nahdi for over 19 years and has played an invaluable role in us reaching this major milestone,” said Nahdi CEO, Yasser Joharji. “It has fast-tracked our transformation into a leading retail pharmacy chain in Saudi Arabia and a fast-growing primary healthcare, omni-health platform,” he added. Jeddah-based Nahdi made its stock market debut on Tuesday, with shares soaring 14.5 percent to SR150 ($40). A day later, it extended gains by almost 7 percent to SR160 at noon Saudi time, implying a market value as high as SR20.8 billion.