Gulf Cement IPO raises US$1.6bn

Gulf Cement IPO raises US$1.6bn
Published: 27 April 2006

The Gulf Cement Company’s IPO has raised more than $1.63bn and was about nine times oversubscribed. Applicants will receive a minimum 250 shares plus 2.78% of the remaining shares for which they applied, according to statement by manager Commercialbank.