NO. 48


Financial and Banking News

Capital Markets

Saudi Official Announces Plans To Sell SABIC Shares

The Saudi Government plans to sell most of its 70% stake in the Saudi BasicIndustries Corporation (SABIC) to the public, Industry and Electricity Minister'Abd al-'Aziz 'Abd Allah al-Zamil said on 17 August. Mr. Zamil said the thegovernment would keep a 25% stake and would sell its shares in stages, 10% at atime. The offer would be open to private sector buyers in Saudi...