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Article: YanSab IPO approaches: Samba ready to arrange offer of YanSab project company.(initial public offering)
- Article from:
- MEED Middle East Economic Digest
- Article date:
- December 2, 2005
CopyrightCOPYRIGHT 2005 MEED Middle East Economic Digest. All Rights Reserved. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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The initial public offering (IPO) of 35 per cent of shares in the project company for the Yanbu National Petrochemicals Company (YanSab) venture is due to be launched by the end of the year. Saudi Basic Industries Corporation (Sabic), the main investor in the project, has appointed Samba Financial Group to arrange the offering.
The IPO will be one of the largest ever in the kingdom, in the range of SR 1,900 million ($507 million) divided into 35 million shares. It is understood that other potential private sector share offerings in the pipeline have been pushed back to make way for the YanSab sale. The share prospectus is being drawn up and will then be submitted ...