Feb 21 2007 |
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Saudi Arabia: MedGulf's IPO Highly in Demand
RIYADH -- Medgulf 's initial public offering (IPO) received big response from Saudi investors as more than 400,000 subscribers covered 118 percent of the offered shares worth SR237 million, according to the National Commercial Bank, which manages the IPO.The insurance company has offered 20 million shares worth SR200 million at the rate of SR10 per share. The bank said it had received more than 103,000 application forms within three days of the IPO.
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