Saudi food firms line up for IPOs

A list of Saudi Arabian food and beverage firms are readying new share sales in deals that will be exposed to the outlook of consumers in an economy that is grappling with the prospect of lower-for-longer oil prices.

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Coffee chain Half Million and biscuit-maker Deemah are among firms speaking to banks about an IPO, according to people familiar with the matter, who asked not to be identified.

Other deals in the pipeline include Barn’s coffee and Hashi Basha, which operates a chain of restaurants featuring camel meat on the menu.