Saudi Gazette - GACA second IPO proves to be a big draw:
"Prince Fahad Bin Abdullah, Chairman of the General Authority of Civil Aviation (GACA) said the second launch of initial public offering has reached SR15,211,000,000. The IPOs, which are Shariah-compliant, are guaranteed by the Ministry of Finance .
Prince Fahad said in a press statement issued on Tuesday that when the GACA went public the first time, many Saudi financial and investment corporations subscribed. “In the second offering, over 31 companies subscribed compared to 25 last year. This reflects how strong the Saudi economy is and the trust investors have in this economy.”
This step comes in line with the government’s policy to enable the private sector to take part in financing development projects that can bring about huge profits."
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