Jul 05, 2008
Riyadh, Saudi Arabia, 5th July 2008: The initial public offering (IPO) of shares in Ma'aden, the Saudi Arabian Mining Company, starts today (Saturday, 5th July 2008).
Ma'aden is offering 462,500,000 shares, representing 50% of the company’s capital. The shares are priced at SR20 each and will be offered from today until the close of business on Monday 14th July 2008. JPMorgan is acting as Financial Advisor and Sole Bookrunner in relation to the offering.
Ma'aden’s President & CEO, Dr Abdallah Dabbagh, said, “Today marks one of the most significant events in Saudi Arabia’s long mining history. Today we offer Saudi citizens the opportunity to invest in the mineral wealth of the Kingdom.”
“Our track record of success in gold mining, combined with large scale phosphate and aluminium projects which are currently under development, and an ambitious exploration program have generated significant interest in the company, which aims to be a world class minerals enterprise.”
After the close of subscriptions, shares will be allocated in three stages. In the first stage, each subscriber will receive a minimum of 25 shares. During the second stage, up to 2000 shares will be allocated to subscribers who have applied for more than 25 shares as long as the total shares allocated do not exceed total shares offered to retail subscribers. If after the second stage there are unallocated shares remaining, then these will be allocated on a pro-rata basis.
Members of the Saudi public interested in subscribing to the shares should contact one of the receiving banks which are: Samba Capital, Samba, Bank Albilad, Banque Saudi Fransi, NCB, Riyad Bank, Arab National Bank, SABB, Saudi Hollandi Bank, Al Rajhi Bank, Bank Al Jazira and Saudi Investment Bank.
Bank customers with the appropriate facilities may also be able to subscribe to the IPO through telephone and internet banking as well as ATMs.
Copies of the prospectus are available from the receiving banks as well as from the Ma'aden and Tadawul websites.
NOTES TO EDITORS
About Ma’aden
Ma'aden was established as a Saudi Arabian joint stock company in March 1997 to facilitate the development of Saudi Arabia’s non-petroleum mineral resources and to diversify the Kingdom’s economy away from the petroleum and petrochemical sectors. Ma’aden is engaged in the development, advancement and improvement of all aspects of the mineral industry, mineral products and by-products and related industries in Saudi Arabia. In July 2008 Ma’aden offered 50% of the company’s shares for subscription in a successful SR 9.25 billion IPO. Ma’aden has progressed towards realizing its vision of building a world class mineral enterprise and its mission of being a profitable, publicly owned, international mining company, while maintaining the utmost concern for human resources, health and safety, environmental and social issues.
Ma'aden is engaged in the development, advancement and improvement of all aspects of the mineral industry, mineral products and by-products and related industries in Saudi Arabia. The company is committed to the best international and local standards in environmental regulations and values its role in Corporate Social Responsibility.
Ma'aden has progressed towards realizing its vision of building a world class mineral enterprise and its mission of being a profitable, publicly owned, international mining company, while maintaining the utmost concern for human resources, health, safety, environmental and social issues.
Maaden
Aqeel Alonazi
Ma'aden Corporate Communications Department
T: +966 55 3063813
E: alonaziam@maaden.com.sa