Saudi Kayan IPO is a hit

Viswanathan, Prema; Gibson, Jane
May 2007
ICIS Chemical Business;5/14/2007, Vol. 2 Issue 66, p8
Trade Publication
The article reports that Saudi Kayan Petrochemical raised Saudi riyal (SR) 32 billion through an initial public offering (IPO). Mutiaq Hamad Al-Morished, chief financial officer of SABIC, says that the IPO was oversubscribed 4.7 times. Al-Morished notes that the IPO did well despite the poor performance of Saudi Arabia's stock index in recent months. Saudi Kayan is building an ethane-butane mixed-feed cracker in Al-Jubail, the first of its kind in the country.


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