(MENAFN) Saudi-based Al Hokair Group, a hospitality firm, said that it plans for an initial public offering (IPO) on the Riyadh bourse in early 2014, The Peninsula reported.
Banking sources said that the company could be valued at USD680 million, which is 13 times to its net profit.
Saudi Arabian firms usually offer 30 percent of their shares in an IPO meaning that the company could raise USD200 million.
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