EIC’s IPO opens today for retail investors

11/11/2014 Argaam

The Electric Industries Company (EIC) kicked off today its initial public offering where retail investors can subscribe to up to 6.75 million shares for SAR 54 per share.
 

The company obtained regulatory approval for floating 13.5 million shares in an initial public offering, 30 percent of capital, to be divided 50-50 between retail and corporate investors.


The IPO, which concludes on November 17, is the sixth on Saudi market this year, following placements by the National Commercial Bank (NCB), Al-Hamadi Development and Investment Co., Al-Hokair Group, Umm Al-Qura Cement and Farm Superstores.

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