Northern Region Cement is set to become the latest cement manufacturer to list on the Saudi Arabian stock exchange, Tadawul.
The company launched an initial public offering yesterday which will see it offer half of its 180m shares at $2.67 (SR: 10) per share, allowing it to raise over $240m.
The shares will be offered to potential investors over the course of the next week until the offer closes on January 14.
The IPO has been arranged by ANB Invest, which is the investment banking arm of Arab National Bank
Source:
http://www.uaecement.com/newsDetail.aspx?id=777
