Saudi regulator okays telco IPO, first offer in 2011

JEDDAH Sun Apr 10, 2011 9:44pm IST

Related Topics

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)

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

Market Eye

REUTERS SHOWCASE

Segway in India

Segway in India

Segway’s India business pegs hope on tech-savvy Modi  Full Article 

Cipla Shares

Cipla Shares

Cipla jumps after key generic launch.  Full Article 

Modi in Japan

Modi in Japan

Japan and India agree to boost strategic ties at summit.  Full Article 

Basel III Norms

Basel III Norms

RBI amends Basel III guidelines for banks.  Full Article 

Antitrust Probes

Antitrust Probes

U.S. business lobby says concerned China antitrust probes unfair.  Full Article 

Current Account

Current Account

Balance of payments surplus for third straight quarter.  Full Article 

Book Talk

Book Talk

Reema Abbasi and a glimpse of Pakistan’s Hindu past.  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage