#IPO
The company plans to offer up to 24 per cent of its shares in the IPO
Wassim Al Khatib will lead Citigroup’s investment banking and markets business in Saudi Arabia
Yahsat provides integrated satellite communications solutions to over 150 countries
SABIC earned net income of SAR40m in 2020, down sharply from SAR5.2bn in 2019
SABIC hasn’t decided on a venue for the sale
Trukker raised $23m last year in one of the largest Series A funding rounds in the region
SABIC reported its biggest quarterly loss in at least a decade in the three months through June
The new decision is hoped to enhance the UAE’s attractiveness for investment and business growth
Oman REIT Fund is planning an initial public offering that could raise about $100m
The Nasdaq Dubai Growth Market will be operational by early 2021
Members of the family own a 67 per cent stake worth about $2.2bn in BinDawood Holding Co
With the offering already more than 50 times oversubscribed, the delay is not currently expected to significantly affect the final pricing
Saudi Telecom is considering selling as much as 30 per cent of the unit
Apple and Aramco are the only two companies to have achieved valuations of $2 trillion
BinDawood plans to sell 22.86 million shares through a book-building process
The IPO could happen next year, depending on how quickly the company recovers from the impact of the coronavirus outbreak
The sale may happen in the first half of 2021
The offering will comprise of 27,180,000 ordinary shares
Globally, 235 IPOs raised $28.5bn in Q1 2020, compared to $15.1bn in Q1 2019
Aramco’s recovery has been achieved on much smaller share volumes than its international counterparts
The kingdom needs an oil price of $84 to balance this year’s budget
Goldman Sachs Group, one of the underwriters of the deal, exercised the over-allotment option and increased the offering
The family-owned business plans to issue new shares as it prepares to float on the stock market.