Market Chatter: Saudi Arabia's NourNet Weighs IPO With Goldman Sachs, HSBC

MT Newswires Live07-13

Saudi digital services provider NourNet is working with Goldman Sachs (GS) and HSBC (HSBC) on a potential initial public offering that could take place as early as this year, Bloomberg News reported Monday, citing unnamed people familiar with the matter.

The report said the listing in Riyadh is still under discussion, with the size and timing yet to be finalized.

Investcorp, which acquired a majority stake in NourNet in 2022, has previously worked with HSBC on a potential offering, it added.

Goldman Sachs, HSBC, Investcorp and NourNet did not immediately respond to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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