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Naseej to launch IPO in November
- Bahrain: Tuesday, October 21 - 2008 at 10:07
The Founders of Naseej, the region's first fully integrated real estate and construction solutions provider, have announced that they would be launching what could be Bahrain's largest ever Initial Public Offering on November 18, 2008. Ithmaar Bank Chairman Khalid Abdulla-Janahi said IPO plans made before the financial crisis broke out would proceed as planned and stressed the importance of 'investing in the region'. Naseej, a $5.33bn company with a paid up capital of $663m, was created in June after Ithmaar Bank brought together major regional investors to raise 60% of the paid up capital. Ithmaar Bank had then said it would be making the remaining 40% available to the public by the end of the year.
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Jeff Florian, Senior ReporterTuesday, October 21 - 2008 at 10:07 UAE local time (GMT+4)
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