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Saudis invest in BIIH
- Saudi Arabia: Saturday, September 08 - 2007 at 14:04
Saudi Arabian investors have provided 50% of the $40m raised by British Islamic Insurance Holdings (BIIH), a UK based Takaful firm, in a private placement reported Arab News. The BIIH also hopes to raise $160m via an IPO with a similar amount via a second tranche at a later date taking the capitalisation to around $360m. Saudi businessman Abdul Aziz Hamad Al Jomaih, who has invested $4m, is the firm's Chairman.
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Jonathan Sheikh-Miller, Deputy EditorSaturday, September 08 - 2007 at 14:04 UAE local time (GMT+4)
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