Saudi Kayan IPO held back

Hadhi, Abdul
January 2007
ICIS Chemical Business;1/8/2007, Vol. 2 Issue 48, p16
Trade Publication
The article reports the delaying of the initial public offering of Saudi Kayan Petrochemical to the second quarter of 2007. Saudi Basic Industries Corp. (SABIC) owns 35% of Saudi Kayan, while Kayan holds another 20%, leaving the remaining 45% available for public subscription. There will not be foreign participation, however, as the IPO will only be available to locals. According to SABIC CEO Mohamed Al-Mady, a few contracts for the company's planned petrochemicals complex had been awarded.


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