- JEDDAH: Saudi Arabia's Capital Markets Authority (CMA) said on Sunday it approved two initial public offerings (IPOs) to be completed before the end of the year.
Al Jouf Cement Co. will offer 50 percent of its shares to the public, or 65 million shares at SR10 ($2.7) a share, the regulator said a statement on Sunday. The offering will take place from July 19-25, making it the ninth cement company to be listed on the Saudi stock exchange.
Abdullah A.M. Al Khodari Sons Co will offer over 12 million shares to the public from Oct. 4-10 this year, representing 30 percent of the company, the statement said. "Portion of the offered shares will be allocated for mutual funds & authorized persons," the statement said.