Roots Group to substitute JP Morgan for IPO advisory

18/11/2014 Argaam

Roots Group will substitute JP Morgan and pick another financial advisor for its billion-riyal initial public offering in Saudi Arabia, Bloomberg reported.
 

The group may hire Bahrain-based Gulf International Bank, instead for the placement aimed to finance future plans.


The building material producer made total sales of around SAR 3.5 billion in 2013 and has operations in Saudi Arabia, UAE, Qatar and other markets.

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