TITLE

Saudi Kayan IPO is a hit

AUTHOR(S)
Viswanathan, Prema; Gibson, Jane
PUB. DATE
May 2007
SOURCE
ICIS Chemical Business;5/14/2007, Vol. 2 Issue 66, p8
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
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.
ACCESSION #
25393693

 

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