Over 5,4 million Saudis pump over SAR16bn at Petro Rabigh IPO
- Saudi Arabia: Tuesday, January 15 - 2008 at 07:19
- PRESS RELEASE
HSBC Saudi Arabia Limited, the Financial Advisor and Lead Manager for the initial public offering (IPO) of Petro Rabigh, announced the victory achieved in Petro Rabigh IPO.
Timothy Gray, CEO - HSBC Saudi Arabia Ltd., said," The IPO is completed smoothly and successfully with no major complications. Individual subscribers numbers are about 5,4 million subscribers who pumped total of SAR16,02bn during the IPO, while Financial establishments share surpassed SAR6,8bn."
"Perto Rabigh IPO is remarked by the wide response from citizens and dividends smooth process which came in two phases. Capital Market Authority (CMA) was keen on such process to establish individual citizens utmost benefit which is the major aim of this IPO; offering individual citizens the opportunity to share the economic renaissance in kingdom's sectors wide especially Refining and Petrochemicals," Gray confirmed.
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