DUBAI Feb 17 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 percent 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.
(Reporting by David French; Editing by Louise Ireland)