Ma'aden IPO half subscribed by day 3
2 million investors pour almost SR 3 billion into Ma'aden IPO
Riyadh, Saudi Arabia,8 July 2008: Sambacapital, lead manager and lead underwriter for Ma'aden’s IPO, has declared that the third day of subscriptions witnessed continued strong interest in its initial public offering. 2,023,032 subscribers investors have poured SR 2,961,323,500 into the IPO which equates to a total of 51% of the offer at the end of the third day.
Sambacapital stated that subscription operations have proceeded smoothly throughout the Kingdom. There is a high level of awareness amongst subscribers of non-traditional electronic channels such as telephone and internet banking, as well as ATMs. Take-up through electronic channels represented 95% of the transactions to date. The flexibility offered by electronic subscriptions has significantly contributed to the massive take-up of the Ma'aden IPO.
NOTE TO EDITORS
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.
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Ma'aden Corporate Communications Department
T: +966 55 3063813
Senior Manager, Corporate Communication & Public Affairs
T: +966 1 4774770 x1712
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