Olayan plans to list bot­tled wa­ter unit

New Straits Times - - Business / World -

DUBAI: Saudi Ara­bia’s bil­lion­aire Olayan fam­ily, which runs one of the na­tion’s big­gest conglomerates, is plan­ning an ini­tial pub­lic of­fer­ing (IPO) of its bot­tled wa­ter busi­ness in the king­dom, said peo­ple fa­mil­iar with the mat­ter. Olayan Financing Co, which con­trolled the fam­ily’s in­vest­ments in the Mid­dle East, was work­ing with HSBC Hold­ings Plc’s lo­cal unit on the 30 per cent sale of its Health Wa­ter Bot­tling Co, said the peo­ple. Olayan planned to list shares on the lo­cal Tadawul stock ex­change, they said.

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