Sources: Norrent Considers IPO in Saudi Market
Logo of Saudi Norrent Company. Bloomberg reported, citing its sources, that Saudi digital services company Norrent is considering an initial public offering (IPO) on the Saudi market. The agency's sources said that the company is working with both Goldman Sachs and HSBC on the potential listing, noting that it may take place during the current year. The sources added that discussions about the offering are still ongoing, and details such as the size or timing of the offering have not yet been determined. According to Argaam data, Norrent was founded in 1998 as a wholly-owned subsidiary of Noor Communications, and...
Sources: Norrent Considers IPO in Saudi Market
Logo of Saudi Norrent Company
Bloomberg reported, citing its sources, that Saudi digital services company Norrent is considering an initial public offering (IPO) on the Saudi market. The agency's sources said that the company is working with both Goldman Sachs and HSBC on the potential listing, noting that it may take place during the current year. The sources added that discussions about the offering are still ongoing, and details such as the size or timing of the offering have not yet been determined.
According to Argaam data, Norrent was founded in 1998 as a wholly-owned subsidiary of Noor Communications. The company started as an internet service provider for the business sector, then gradually expanded its capabilities to offer value-added ICT services, including cloud computing, managed IT services, security and cybersecurity, and data center management.
In October 2022, Investcorp announced that an investment entity managed by the company acquired a majority stake in Norrent.
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Original source: Argaam
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