Leejam Sports to file for 1b riyal IPO

Saudi

Arabian sports and fitness business Leejam Sports Co is targeting an initial public offering in the fourth quarter in a share sale expected to raise 1 billion riyals (Dh979,381, $266.65 million), sources familiar with the deal said on Tuesday. The company hired the investment banking arm of Samba Financial Group and Rothschild last year to arrange its share sale, which will see 30 per cent sold to the public and a listing on the Tadawul stock exchange based in Saudi Arabia’s capital, Riyadh. (Reuters)