Arabian Oud To Go Public in Saudi Market This Year

Arabian Oud Co. is planning to offer its shares to the public in the Saudi market this year, Al-Eqtisadiah reported, citing CEO Omar Al-Jasser.

SNB Capital was named as local advisor, while Emirates NBD Capital was appointed as external advisor.

 

Arabian Oud holds the lion’s share of the Saudi perfume market at 11%, which is valued at more than SAR 8 billion. 

The perfume market is expected to grow at a compound annual growth rate (CAGR) of 8% over the next five years, he added.

 

The company is panning inorganic growth through acquisitions and entry into new markets. It has recently acquired some companies, some of which are providing skin care products.