RIYADH: The Olayan family, which runs one of ¶¶Òõ¶ÌÊÓƵ’s biggest conglomerates, is considering an IPO of a holding company of about 25 units, CEO Nabeel Al-Amudi said in an interview with Bloomberg Television.
It’s also weighing an IPO of some of its operating firms, Al-Amudi said in Riyadh on the sidelines of ¶¶Òõ¶ÌÊÓƵ’s Future Investment Initiative.
Listing plans were put on hold in 2017 due to slow economic growth in the Kingdom, according to Bloomberg.
The planned sale of the holding company may have been worth as much as $5 billion, people familiar with the matter said then. The Olayan family had been working with Saudi Fransi Capital on the sale, the people said.
The company is seeing an uptick in its consumables segment, Al-Amudi said. “It is not pre-pandemic levels in some of them, but I think overall, we are quite happy with how things are progressing.â€
Olayan Financing was established in 1969 to control the billionaire family’s investments in the Middle East.
