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Stock impact report

UPDATE 1-Supermarket chain Spinneys' Dubai franchisee announces IPO plans [Yahoo! Finance]

HSBC Holdings, plc. (HSBC) 
US:NYSE Investor Relations: hsbc.com/investor-relations
Company Research Source: Yahoo! Finance
DUBAI, April 16 (Reuters) - A franchisee of supermarket chain Spinneys, which operates in the United Arab Emirates and Oman, on Tuesday announced plans for an initial public offering (IPO) on the Dubai bourse, in the first listing of a supermarket chain operator in the UAE. Spinneys Dubai LLC will offer a 25% stake through the IPO, and the price will be determined through a book-building process that will open on April 23 and close on April 29 for UAE retail investors and other investors, and on April 30 for professional investors. Shares are expected to start trading on the Dubai Financial Market next month, the company said in a document. Reuters was first to report about the IPO plans in September, citing sources that the company was planning a public listing in the second quarter of this year and that owner Albwardy Investment had hired Rothschild & Co to advise on the transaction. Spinney's IPO adds to the small but growing regional food retail sector. UAE-based hypermar Show less Read more
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