Alinma Bank IPO 37% covered
Saudi Arabia: Thursday, April 10 - 2008 at 11:23
Saudi Arabia's Alinma Bank said yesterday its initial public offering, the kingdom's largest ever, raised about 3.91 billion riyals by the second subscription day, reported Reuters. The bank is seeking to sell 1.05 billion shares at 10 riyals each in the April 7-16 IPO. The sale represents 70 per cent of the new bank's capital. The sale is open only to Saudi nationals who will have to buy at least 50 shares each.
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Jeff Florian, Senior ReporterThursday, April 10 - 2008 at 11:23 UAE local time (GMT+4)
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