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Landmark Group to list on Saudi market
Retail conglomerate also plans a $150 million expansion drive over the next three years.
April 11, 2010 11:45 by Ben Flanagan
Retail conglomerate the Landmark Group plans to list on the Saudi stock exchange by around 2012, and will also invest $150 million in an expansion drive.
Going public “is on the drawing board for Saudi Arabia and for the UAE that would be in the next phase,” Landmark Group CEO Vipen Sethi is quoted as saying in today’s Khaleej Times newspaper.
“We don’t have a date on that at the moment and it will take time. May be in the next 24 months,” Sethi added.
The company, which was established in Bahrain in 1973, has an annual turnover in excess of $3.2 billion. It plans a $150 million expansion drive over the next three years, plus additional investment for expansion in India.