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Over 5,4 million Saudis pump over SAR 16 billion at Petro Rabigh IPO |
Draft Press Release: |
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Jeddah, Saudi Arabia, January 14, 2008: HSBC Saudi Arabia Limited,
the Financial Advisor and Lead Manager for the initial public offering (IPO) of
Petro Rabigh, announced the victory achieved in Petro Rabigh IPO. At the
same time HSBC presented thanks for investors and concerned departments for the
great confidence in Petro Rabigh and their efforts to complete such a successful
IPO.
Timothy Gray, CEO - HSBC Saudi Arabia Ltd., said," The IPO is completed smoothly
and successfully with no major complications. Individual subscribers numbers are
about 5,4 million subscribers who pumped total of SAR 16,02 billion during the IPO,
while Financial establishments share surpassed SAR 6,8 billion."
"Perto Rabigh IPO is remarked by the wide response
from citizens and dividends smooth
process which came in two phases. Capital Market Authority (CMA) was keen on such
process to establish individual citizens utmost benefit which is the major aim of
this IPO; offering individual citizens the opportunity to share the economic renaissance
in kingdom's sectors wide especially Refining and Petrochemicals." Gray confirmed.
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