Sunday, Apr 15, 2012
DUBAI (Zawya Dow Jones)--Saudi Arabia's Capital Market Authority, or CMA, said Sunday it has approved a plan by Al-Tayyar Travel Group to sell its shares to the public.
Al-Tayyar plans to sell 24 million shares, or 30% of the group's total outstanding shares, in an initial public offering. A portion of the offered shares will be allocated to institutional investors, CMA said in a statement posted on the Saudi bourse website.
The group's IPO will start May 14 and run until May 20, it added.
-By Summer Said, Dow Jones Newswires; +966-546-842-373; summer.said@dowjones.com
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(END) Dow Jones Newswires
15-04-12 1308GMT
