DUBAI (March 1): Nahdi Medical Co, Saudi Arabia's market leader in retail pharmacies, aims to raise up to 5.11 billion riyals (US$1.36 billion) in the country's biggest initial public offering (IPO) since Saudi Aramco's listing in 2019.

The company has set a price range of 119 riyals-131 riyals a share for the offering, according to a bourse filing. It will sell 39 million shares, or a 30% stake, and has appointed HSBC Saudi Arabia and SNB Capital as joint financial advisers, bookrunners, and underwriters.