Leejam Sports seeks approval for Tadawul IPO: report

10/02/2018 Argaam

 

Leejam Sports Company has applied to the Saudi market regulator to carry out an initial public offering (IPO) on Tadawul, Reuters reported, citing sources familiar with the matter.

 

The investment banking arm of Samba Financial Group and Rothschild had been selected to arrange a share sale that was expected to raise SAR 1 billion ($266.7 million),Reuters reported in May 2017.

 

Back then, reports said the gym operator plans to float a 30 percent stake in an IPO on Tadawul.

 

Investcorp, which acquired a 25 percent stake in the firm in 2013, is expected to be one of the sellers of shares, the sources said.

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