(Bloomberg) -- Commercial Growth Development Company plans to sell 64 million shares in BinDawood Holding Co., exiting its stake in the Saudi Arabian supermarket group, according to a document seen by Bloomberg News.
The stock on sale represents a roughly 5.6% stake in the Riyadh-listed group.
Goldman Sachs Saudi Arabia and SNB Capital Company are handling the overnight sale.
Riyadh has seen more than $13 billion worth of stock sales out of listed companies this year so far, the bulk of which came from a large equity offering out of Saudi Arabian Oil Co, according to data compiled by Bloomberg.
BinDawood listed on the kingdom’s Tadawul bourse in 2020.
(Adds details about Saudi stock sales and BinDawood.)
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