Middle East Economic Survey

VOL. XLVII

No 39

27-September-2004

ENERGY FINANCE

Alujain Quadruples Capital To $185Mn

The capital of the Jiddah-based private firm Alujain is to be quadrupled from SR173mn ($46.1mn) to SR692mn ($184.5mn), according to a decision of the companys shareholders assembly adopted on 1 June 2004 and published in the Saudi Official Gazette of 3 September. The company will issue 10.38mn new shares which will be nominally priced at SR50 ($13.30) per share plus a premium of SR10...