An initial public offering (IPO) to raise SR4.6 bln (US$1.23 bln). This is the first time that state-owned Aramco, the world's largest oil producing firm, has offered shares in one of its affiliates to the public. Sumitomo Chemicals and Aramco will each retain a 37.5% after the IPO. PetroRabigh- a US$10 bln joint venture between Saudi Aramco and Japan's Sumitomo Chemicals, will sell 219 million shares, representing 25% of its capital, to Saudi nationals at SR 21 each.
For more details please click on the following link
http://plastemart.com/plasticnews_desc.asp?news_id=11470&P=P
Tuesday, January 08, 2008
PetroRabigh launches SR4.6 bln IPO
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