Middle East Economic Survey


No 7


Saudi Arabia

Ma'aden IPO Set For September

The long-discussed plan to privatize the Saudi Arabian Mining Company (Ma'aden) will start to be implemented in September this year with the initial public offering (IPO) of half of the companys SR4bn ($1.06bn) capital, the companys Vice President Muhammad al-Dabbagh said on 25 January. A total of 80mn shares will be offered for sale, doubling Ma'adens capital to SR8bn. Mr Dabbagh said the IPO...