Jarir was converted to a joint stock company (closed) in October 2000 when it concluded a successful private placement of 40% of its shares to selected institutional investors and high net worth individuals.
Jarir continues to grow successfully and has achieved a turnover of SR 419 million for the nine months ended 30th Sept. 2002, which is 9% higher than in the same period in 2001. Jarir expects to complete the fiscal year 2002 with a turnover of over SR 540 million and a 25% improvement in its net income.
Gulf International Bank (GIB) has been mandated as exclusive financial adviser for the Initial Public Offering of Jarir's shares, which will coincide with the listing.
Gulf International Bank (GIB) is a leading merchant bank in the Middle East with its principal focus on the Gulf Cooperation Council (GCC) states. Its client base includes major private-sector corporations, Gulf-based financial institutions, multinational companies active in the region and the governments of the GCC states.
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Jarir Marketing to go public in 2003
- United Arab Emirates: Tuesday, November 19 - 2002 at 12:07
- PRESS RELEASE
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Jarir Marketing Co., a leading supplier of stationery and school supplies to the retail and wholesale markets in Saudi Arabia, is proposing to list its shares on the Saudi Stock Market in early 2003.
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Posted by Anne-Birte Stensgaard, News EditorTuesday, November 19 - 2002 at 12:07 UAE local time (GMT+4)
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of AME Info FZ LLC / 4C.
This article was updated on Mon Jan 19 2004.
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For further information please contact Mr. Anthony James, Head of Corporate Development at GIB Bahrain, Telephone: (+973) 522610.
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