VOL. XLV

No 7

18-February-2002

SAUDI ARABIA

Saudis Al-Hakir Group To FollowAl-Zamils IPO

The Saudi 'Abd al-Muhsin al-Hakirand Sons Group, involved in luxury and tourism projects, has announced plans tofloat up to SR800mn ($213mn) of its total capital of SR1.5bn ($400mn) in thecoming year as the first step towards an initial public offering (IPO).According to the Arabic daily Asharq al-Awsat of 11 February, theprocess will transform several of the groups subsidiaries into joint stockcompanies....