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FinancialNews


  • 03-01-18

    Saudi Arabia: construction giant to sell 30 percent of subsidiary in IPO

    (MENAFN) It was declared that Saudi builder Dar Al Arkan Real Estate Development Company is set to sell 30% of subsidiary in an initial public offering (IPO).

    In a statement, the company announced its board of directors to have selected Samba Capital & Investment Management Company to be the IPO of Dar Al Arkan Properties Company's financial adviser.

    The statement also cleared that it plans to file the proposal application to the Capital Market Authority in hopes of acquiring needed approvals.

    MENAFN0301201800450000ID1096302307

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