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Ma'aden IPO 68% subscribed with 5 days to go

 

Jul 09, 2008

2.7 million investors pour almost SR 4 billion into Ma'aden IPO

Riyadh, Saudi Arabia,9 July 2008: Ma'aden has declared that the fourth day of subscriptions witnessed continued strong interest in its initial public offering. 2,710,000 investors have poured SR 3,941,000,000 into the IPO which equates to a total of 68% of the offer at the end of the fourth day.

Take-up through electronic channels, such as telephone and internet banking and ATMs, represented 94% of the transactions to date.

JPMorgan is financial advisor and sole bookrunner for Ma'aden’s IPO and Sambacapital is lead manager and lead underwriter.

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