Maaden IPO: Saudi Arabia Mining Company IPO: Finance Trading Times

Maaden IPO: Saudi Arabia Mining Company IPO

There is a new IPO or initial public offering coming to the middle east capital markets. The IPO belongs to State-owned Saudi Arabian Mining Company (Maaden).
Maaden  IPO Saudi Arabia Mining Company IPO
What is the expected size of the Maaden IPO?
The Maaden IPO is expected to raise around 9.25 Billion Riyals which is equivalent to around 2.5 billion dollars.

What is the valuation of Maaden IPO?
The Maaden IPO is said to be the biggest mining IPO or initial public offering of the middle east markets. It values the mining firm Maaden at a value of $4.9 billion USD.

How many shares will be sold through the Maaden IPO?
A total of 462.5 million of stock will be sold through the Maaden IPO.

What is the price per share of Maaden IPO shares?
The Maaden IPO shares are priced at 20 Riyals each.

What are the opening dates, subscription dates and listing date of Maaden IPO shares?
The subscription for Maaden IPO is presently open and will close on July 14, 2008.

Any other news about Maaden IPO?
The IPO is to cover some of the costs of projects led by the company, mainly a 740,000-tonne aluminium smelter with Rio Tinto and a 3m tonnes phosphate and by-products plant with Saudi Basic Industries Corporation (Sabic).
The other 50pc of Maaden's capital is held by the Public Investment Fund (PIF), a state fund under the helm of the finance ministry. Only Saudi investors will be able to buy the stock.
Maaden-Rio Tinto's aluminium smelter will cost $7.53bn and plans to export 70pc of the production, Vice-President Abdallah Al Fallaj said earlier.
The Saudi firm has secured loans worth several billion dollars from Saudi and Korean institutions for the phosphate project with Sabic.
Maaden estimates its total investments at 60bn riyals, including phosphate, bauxite, gold and industrial minerals. The investments are part of government plans to diversify an economy that heavily depends on oil. Table of Contents
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