DUBAI, Aug 24 (Reuters) - Saudi Arabia's Milling Company 3 (MC3) has appointed HSBC to manage its planned initial public offering (IPO) next year, two sources familiar with the matter said.

MC3, which operates flour mills in the region of Khamis Mushait, Aljouf and Aljamoom, was one of several such privatisations in Saudi Arabia.

It was sold to a consortium of Al Ghurair Investment, Al Rajhi Holding Group and Masafi for 750 million riyals ($200 million) by the Saudi Grains Organization in 2020.

MC3 did not immediately respond to a request for comment. HSBC declined to comment on Wednesday.

This summer, the company invited banks to pitch for its planned public-share sale and appointed boutique firm Moelis & Co as an independent financial adviser, Reuters reported on June 1, citing two sources familiar with the matter.

Milling Company 3 is targeting an offering in the first quarter of 2024, one of the sources told Reuters in June.

MC3 is the second milling company in Saudi Arabia to seek a listing.

First Milling Co priced its IPO in June at the top of the indicative range on strong demand. (Reporting by Hadeel Al Sayegh; Editing by Clarence Fernandez)