Ƶ’s Berain Water hires Samba for possible IPO

Berain would become the first bottled-water company to list in Ƶ. (File)
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  • Berain Water is considering a 30 percent stake sale

RIYADH: Berain Water has hired the investment banking arm of Samba Financial Group to manage a possible initial public offering (IPO), Bloomberg reported citing people familiar with the matter.

No final decision has yet been made on a potential 30 percent stake sale and the company may decide against an IPO, said the people, who asked not to be identified as the information is private.

Riyadh-based Berain is one of Ƶ’s biggest bottled-water companies, and its listing would open a new industry to public investment in the Kingdom.

Ƶ is also expected to sell part of its Ras Al-Khair facility on Ƶ’s Arabian Gulf coast, one of the world’s biggest desalination plants, later this year.

Ƶ will be among the top 10 most “water-stressed” nations in 2040, according to World Resources Institute forecasts.