CMA approves Al Jouf Cement IPO, Saudi Arabia

CMA approves Al Jouf Cement IPO, Saudi Arabia
Published: 28 June 2010

Saudi Arabia’s Capital Markets Authority (CMA) said on Sunday it approved an initial public offering (IPOs) for Al Jouf Cement Co to be completed before the end of the year.

Al Jouf Cement Co. will offer 50 per cent of its shares to the public, or 65 million shares at SR10 (US$2.7) a share, the regulator said a statement on Sunday. The offering will take place from July 19-25, making it the ninth cement company to be listed on the Saudi stock exchange.