Financial and Banking News
New Share Flotation Launched in Saudi Arabia
A Saudi Arabian construction company with a major contract to redevelopproperty surrounding the Grand Mosque in Mecca has floated 3.36mn shares,equivalent to 25% of the company's SRl ,335mn ($356mn) equity. MakkahConstruction and Building Company is the fourth Saudi company to float itsshares on the local market this year. The shares, with a nominal value of SR100,are...