Al-Ittefaq Steel eyes IPO on Tadawul, official tells Argaam 

Wed, 2022-09-14 21:49

RIYADH: Al-Ittefaq Steel Products Co. is intending to offer part of its shares for public subscription on Saudi Arabia’s main market, Jassim Al-Abbas, general manager of business development, sales and marketing, told Argaam.
The value of the company is estimated at over SR8 billion ($2 billion), he said, adding that Hilal Al-Tuwairqi owns around 60 percent of the firm’s capital, while the remaining 40 percent is held by other investors.

A deal with the financial adviser to manage the company’s initial public offering is expected soon.
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