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The offering could be as much as 30 percent of stake in the company
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Riyadh-based Berain is one of Saudi Arabia’s biggest bottled-water companies
Berain Water of Saudi Arabia has roped in the services of the investment banking arm of Samba Financial Group to manage a potential Initial Public Offering (IPO) of the company, according to Bloomberg citing people familiar with the plan.
No final decision has yet been made on a potential 30 percent stake sale and the company may decide against an IPO, said the people, who asked not to be identified as the information is private.
Riyadh-based Berain is one of Saudi Arabia’s biggest bottled-water companies, and its listing would open a new industry to public investment in the Kingdom.
Saudi Arabia is also expected to sell part of its Ras Al-Khair facility on Saudi Arabia’s Arabian Gulf coast, one of the world’s biggest desalination plants, later this year.
Saudi Arabia will be among the top 10 most “water-stressed” nations in 2040, according to World Resources Institute forecasts.
