Shares of Saudi BinDawood rise after launching express stores in Jeddah, Makkah

RIYADH: BinDawood Holding Co., a Saudi-based grocery retail operator of hypermarkets and supermarkets, saw its share rise 1.29 percent after announcing the opening of two Danube Express stores at the Haramain High Speed Railway stations in Jeddah and Makkah.

The share price rose to SR86.70 ($23.12) as of Wednesday’s closing bell, compared to SR85.60 at the previous close.

The opening marks the first express store with two more to follow in the city of Madinah as well as the King Abdullah Economic City in 2022, the company said.

“The Haramain railway is expected to carry over 60 million passengers annually, and we are thrilled to reach more customers across the Kingdom and introduce them to the Danube experience through the new ‘express’ model,” said Ahmad BinDawood, CEO of BinDawood.