NO. 9


Saudi Arabia

NIC Issues SR300mn in New Shares to Founding Shareholders

Saudi Arabia's National Industrialization Company (NIC) began to issue 6mnnew shares worth SR300mn ($80mn) to founding shareholders on 16 November. Theissue will double NIC's capital to SR600mn ($160mn). The decision to issue newshares was taken last July during an extraordinary shareholders' meeting (MEES,29 July). NIC shares are presently worth SR250 ($67), but the new shares arebeing offered...