Saudi contractor Al-Khodari and Sons has appointed a unit of Gulf International Bank (GIB) as the lead manager for its initial public offering (IPO) due in October, Reuters has reported. The firm will offer 12 million shares, or 30% of its capital, to the public over the October 4-10 period. The Khobar-based construction firm was founded in 1966 and caters mainly to industrial firms in Saudi Arabia. It has branches in Kuwait and Dubai.
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