Kingdom Holdings to IPO next month

1536 Views 2 Replies 2 Participants Last post by Riyadhi, May 28, 2007

Riyadhi

Discussion Starter · May 28, 2007

Kingdom Holdings to IPO next month

Prince Alwaleed bin Talal expects to launch an initial public offering (IPO) of Kingdom Holdings by the end of next month, with reports suggesting he could raise up to $7bn with a 30% stake sale.

Speaking to Middle East-based tenders magazine MEED Alwaleed said that the objective was to be "a publicly traded company in Saudi Arabia before the end of this quarter."

UK broadsheet The Sunday Times reported last month that Alwaleed could seek to raise $7bn with a 30% divestment of his holdings.

This got to be the largest IPO in the history of tadawul. But it's not confirmed yet!!

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huit

· #2 · May 28, 2007

Would this IPO put him back into top 3-5 richest people in the world?

by the way, I'm not into stocks 'n all but why $ 7B, why not 14B or 20B? I'm pretty sure it'll be over-subscribed nonetheless!

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I think it's because his fortune is about $21 billion. 30% of that is $7 billion but that's just a prediction!

The largest ever IPO was that of STC few years back. I think it was only $4 billion . The second largest IPO of Kayan managed to attract $8 billion of its $1.8 billion IPO last month.

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