UPDATE 1-Saudi regulator approves six IPOs over June-Oct

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By Souhail Karam

RIYADH, June 7 (Reuters) - Saudi Arabia's stock market regulator said on Sunday it had approved six initial public offerings (IPOs) for the period until October, the first of which will be for Saudi Steel Pipes Co (SSP) this month.

The IPOs will be the first since April when four insurance companies raised 260 million riyals.

SSP, which was founded in 1980 and caters mainly to the oil and gas industry, will offer 16 million shares, or 31.4 percent of its capital, over the June 27 to July 3 period, the Capital Market Authority (CMA) said in statements.

Mouwasat Medical Services Co, set up in 1975 and engaged in the ownership and management of hospitals and pharmacies, will sell 7.5 million shares representing 30 percent of its capital over Aug. 15 to 21, CMA said.

Based in the Eastern province, Mouwasat's clients include state oil major Saudi Aramco, petrochemical group Saudi Basic Industries Corp 2010.SE (SABIC) and contracting firm Saudi Oger, according to its website.

A book-building process will fix the pricing for SSP and Mouwasat's listings.

National Petrochemicals Company (Petrochem) will offer the Saudi public 80 million shares, representing 16.67 percent of its capital, at 10 riyals ($2.67) each over July 18 to 24.