Nahdi Pharmacy going public
As part of Vision 2030, firms are being encouraged to list stocks. Nahdi pharmacy, with its network of over 1,100 stores and valued at 10 billion SR in talks for its public share sale sometime next year. The firm is owned 50% by Jeddah-based Sedco Holding. According to Kuick Research, the Gulf region will double its pharmaceutical drug market to $20 billion by 2025.
In February, Suleiman Habib listed 15 % of its shares at $700 million, and Amlak International for real estate launched an initial offering of 27.2 million SR on July 2nd. Bin Dawood has also received approval to list 20% of its shares.
Healthcare is one of the main focus areas of the Saudi Vision 2030, and family-owned companies are being encouraged to list in a bid to deepen capital markets.