Ittefaq Steel to raise fund in IPO
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Ittefaq Steel to raise fund in IPO

Ittefaq Steel to raise fund in IPO

Saudi Arabia's Al-Ittefaq Steel is intending to sell 30% of its stake in an initial public offering (IPO) in the fourth quarter of 2008, according to a top financial executive, Kuwait Times has reported. The fund is intended for expansions, consisting mainly of melt shops, direct reduction plants and flat products plants.

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