VOL. XLI

No. 19

11-May-1998

SAUDI ARABIA

Private Placement For Jana

The Arabian Industrial Development Company (Nama) is about to launch a SR156mn($41.6mn) private placement for a 65% stake in the new Jubail Chemical Industries (Jana).Mr. Khalil al-Zamil, Nama's chairman, told MEES that the new company will have acapital of SR240mn ($64mn), of which NAMA will subscribe a minimum of 35%, or SR84mn($22.4mn). The company will be structured as a closed joint-stock company which, after twoyears,...