Saudi regulator okays telco IPO, first offer in 2011
JEDDAH (Reuters) - Saudi Arabia's stock market regulator approved on Sunday the first initial public offering on the biggest Arab bourse this year to be completed in the second quarter.
Saudi Integrated Telecommunication Company will offer 35 percent of its shares at 10 riyals ($2.7) a share to be offered between May 2 and May 8, the capital markets authority said in a bourse statement.
The telecoms firm will offer in total 35 million shares, 5 million of which will be allocated to the General Organisation for Social insurance, the statement said.
(Reporting by Asma Alsharif; Editing by Ulf Laessing and Jon Loades-Carter)
- Tweet this
- Share this
- Digg this
- India's Mars mission a step closer to success with engine test
- Apple sells more than 10 million new iPhones in first three days |
- PM Modi to get rock star reception in New York
- India withdraws pharma pricing regulator's power to cap non-essential drug prices
- Modi to observe strict fast during maiden trip to U.S.
India has withdrawn the drug pricing authority's powers that allowed it to fix the prices of medicines not deemed essential, after its decision to impose price caps on more than 100 drugs in July triggered industry protests. Article
India has no plans to increase food handouts - Food Minister Ram Vilas Paswan. Full Article