Riyadh Cables Seeks About $400 Million From Saudi IPO
- Firm working with Riyad Capital, IPO could come this year
- The Middle East is having a banner year for listings
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Riyadh Cables Group, a Saudi Arabian manufacturer and exporter of power and telecommunications cables, is planning an initial public offering in the kingdom that could raise about $400 million, according to people familiar with the matter.
The company is working with Riyad Capital and Himmah Capital on the proposed listing that could come as soon as this year, the people said, asking not to be identified as the information isn’t public. More banks could be added later, they said.