VOL.XXXVI

NO.48

30-AUGUST-1993

Financial and Banking News

CAPITAL MARKETS

NewSaudiConstructionCompanyTo Raise $125mn In Share

Flotation

A new Saudi construction company istooffernewshares

worth SR470mn ($125mn) through apublic subscription in October.ShareswillbepricedatSR100 each.Founding

shareholders in Arriyadh DevelopmentCompanyhavealready subscribed SR530mn ($141mn).The company's main activities

will include building houses andcommercialpropertiesin the center of Riyadh.