RIYADH: Averda, a Dubai-based waste and recycling firm, is considering an initial public offering in Saudi Arabia or the UAE, Bloomberg reported citing unnamed sources.
Earlier this year, Averda held discussions to merge with the US-based SPAC firm Better World Acquisition Corp., but the talks were ditched, the sources said.
The company declined to comment to Bloomberg on the news, without disclosing any details on the potential offering.
According to Bloomberg, Averda had explored an IPO option in the past, and sold 33 percent of its capital to Bahrain’s Growthgate Capital back in 2008.
The move by the waste management firm is the latest in the wave of firms rushing to sell shares to the public through IPOs.
