Perfume Retailer Arabian Oud Said to Hire Banks for Saudi IPO

Perfume retailer Arabian Oud has hired banks for a planned initial public offering in Saudi Arabia, according to people familiar with the matter.

The company has picked Emirates NBD Capital and SNB Capital for the potential share sale, the people said, asking not to be identified as the information isn’t public. Details such as timing and valuation are still under discussion and subject to change, the people said.

Representatives for SNB Capital declined to comment. Arabian Oud and Emirates NBD didn’t respond to requests for comment.

Founded by Sheikh Abdul Aziz Al-Jasir in 1982, Arabian Oud has 1200 stores across ...