Alinma Bank to participate as receiving bank in Al Jouf Cement IPO

Alinma Bank to participate as receiving bank in Al Jouf Cement IPO
Published: 09 August 2010

Alinma Bank will participate as a receiving bank in the upcoming Al Jouf Cement Company IPO, which is scheduled to open on Monday, July 19, 2010 and will extend through the close of business on Sunday, July 25, 2010. This marks the first time Alinma will function as an IPO receiving bank.

Al Jouf will offer sixty-five million (65,000,000) shares for public subscription, representing 50% of the company’s shares for ten riyals per share.

Alinma Bank partners (clients) may complete the subscription process via Alinma Internet (www.alinma.com) or by visiting a branch and presenting proper personal identity and family documentation.

Subscription is limited to Saudi nationals, including divorced or widowed Saudi women with children from marriages to non-Saudi men. Women in such circumstances may subscribe under their names. The per subscriber maximum and minimum subscription limits are 500,000 shares and 50 shares, respectively.