Saudi Arabia's Best 2017 Performer Plans Unit IPO by End of Year - Bloomberg:
"Dar Al Arkan Real Estate Development, the biggest stock winner of 2017 in Saudi Arabia, expects to conclude the initial public offering of its property unit before the end of this year, according to Chief Executive Officer Ziad El Chaar.
The process is still in “very early stages,” Chaar said in a telephone interview on Thursday. The preliminary valuation of the asset portfolio owned by the unit is about 2.7 billion riyals ($720 million), he said. The company could raise about 810 million riyals if it sells an intended 30 percent stake in the subsidiary, which owns projects in Saudi cities including Mecca, Medina, Jeddah and Riyadh. "
'via Blog this'
No comments:
Post a Comment