Several Saudi companies are lining up to sell shares on the local exchange next year, led by food and beverage brands looking to capitalize on rising consumer spending.
Half Million, the coffee chain founded by two scions of the billionaire Al Rajhi banking family, has hired EFG Hermes and SNB Capital to advise on an initial public offering, according to people familiar with the matter.
Two other local cafes — Barns and The Coffee Address — have started talks with banks about potential share sales, while luxury retailer and restaurant chain Bateel is in discussions with advisers after already hiring Morgan Stanley, people familiar said.
Beyond the consumer space, health care products distributor Tamer Group is working with HSBC on an IPO that could go ahead next year, the people said.
EFG Hermes, SNB Capital, and HSBC declined to comment. Half Million, Barns, Coffee Address, Bateel, and Tamer Group didn’t respond to requests for comment.
