Home Industry Finance Saudi Hardware Retailer Picks HSBC’s Saudi Arm As Listing Adviser The firm will list 30 per cent of its shares on the Kingdom’s stock exchange. by Reuters February 18, 2014 Saudi Company for Tools and Hardware (Saco) has chosen HSBC’s Saudi Arabian unit to advise it on a planned initial public offering, a statement from the retailer said on Monday. The firm will list 30 per cent of its shares on the Kingdom’s stock exchange “soon”, the statement said without specifying a date for the flotation or the size of the deal. Established in 1985, Saco operates 21 retail outlets for home improvement materials and tools in 12 cities across the Kingdom, according to the statement. 0 Comments