TITLE

Saudi Kayan IPO raises $8.5bn

AUTHOR(S)
Viswanathan, Prema
PUB. DATE
May 2007
SOURCE
ICIS Chemical Business Americas;5/14/2007, Vol. 271 Issue 19, p19
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article reports on the fund raised by Kayan Petrochemical through an initial public offering (IPO), which closed on May 7, 2007. According to Mutiaq Hamad al-Morished, the chief financial officer of the developer of the project SABIC, the IPO was oversubscribed and raised Saudi riyal (SR) 32 billion. SABIC has a 35% stake in Saudi Kayan, which received approval from Saudi stock market regulator to sell its shares. Meanwhile, Kayan Petrochemical holds the remaining 20% stake in the firm.
ACCESSION #
25165989

 

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