Investcorp has agreed to partially exit its stake in Saudi Arabia-based grocery retail operator BinDawood via the company’s upcoming IPO on the Saudi Stock Exchange Tadawul. Shareholders including Akasiya Star Trading Company, Abdullah BinDawood Sons Company, and Investcorp-subsidiary Commercial Growth Development Company will sell 22.86m ordinary shares, representing 20% of the company’s share capital. Specifically, Investcorp will sell 1.6m shares, representing a 1.4% stake, and will retain a 5.6% stake in the company. Read more