Fawaz Abdulaziz Alhokair Co. , a Saudi retailer, is studying 3-5 acquisition targets in the United States and United Kingdom.
The firm, the largest listed retailer on the Saudi stock market (which does not allow foreign investors), also aims to issue its debut Shariah-compliant bond (sukuk) in the next year.
Alhokair acquired the Spanish clothing brand Blanco last month.
Alhokair operates 1885 stores across 20 markets mainly in the Middle East and the former Soviet countries.
At the current rate, Alhokair is opening a new store every 18 hours and is planning to open 404 stores globally in the next year. Of these, about half will be in Saudi Arabia, with 42 in the United States and 24 in Egypt.