Saudi cement firms plan IPO

Saudi cement firms plan IPO
Published: 07 April 2008

Five new Saudi cement companies intend to sell 50% of their capital in initial public offerings (IPOs), local press reported.

Al-Eqtisadiah named the firms as Thamrat Najran in the Najran region in the far south, Medina Cement based in Riyadh, Abra Al-Mamlaka (Sabak) in the northern region, Jouf Cement in Jouf and Al-Khayat Trading and Engineering, based in Mecca.

Citing the Ministry of Petroleum and Mineral Resources, it said the companies were licensed on condition they establish public shareholding firms covering their cement production activities.