Saudi Arabia’s United Electronics Company, owner of retailer eXtra, said on Tuesday it was evaluating strategic options for its consumer finance business, including a possible initial public offering.
The statement to the stock exchange came after Reuters on Monday reported the company had appointed HSBC to arrange a public share sale, citing two sources familiar with the matter.
“Any decision regarding these strategic options is still subject to completing the necessary financial, technical and legal assessments; obtaining the relevant corporate approvals; as well as any necessary regulatory approvals,” the company said in the bourse filing.
Reuters