Apr 21 2007 |
more articles from
|
Saudi Arabia: Al Sagr Appoints BMG to Arrange, Advice for IPO
JEDDAH, 21 April 2007 -- The board of directors of Al Sagr Company for Cooperative Insurance has appointed BMG Financial Advisors to underwrite the offering of 40 percent of its shares to the public in the Saudi capital market.Al Sagr is one of the companies that have been licensed along with the fifteen other insurance companies to operate in the Kingdom. Al Sagr has been in operation since 1983.
According to Basil Al-Ghalayini, CEO of BMG Financial Advisors , the government has played its part in stimulating growth through the mandatory health insurance and third-party vehicle laws.
Walid Ayoub, managing director of Al Sagr, emphasized the importance of the smooth transformation of Al Sagr company to a public entity in accordance with Saudi Arabian Monetary Agency's (SAMA's) regulations. BMG is working closely to achieve this in a timely fashion.
© Arab News 2007
Zawya Comment Policy
-
Zawya encourages you to add a comment to this discussion. You agree that when you add content to this discussion your comments will not:
1.1 Contain any material which is libelous or defamatory of any person, is obscene, offensive, hateful or inflammatory or causes damage to the reputation of any person or organisation.
1.2 Promote sexually explicit material, violence, discrimination based on race, sex, religion, nationality, disability, sexual orientation or age or any illegal activity.
1.3 Be made in breach of any legal duty owed to a third party, such as a contractual duty or a duty of confidence.
1.4 Be threatening, abuse or invade another's privacy, or cause annoyance, inconvenience or needless anxiety.
1.5 Be used to impersonate any person, to misrepresent your identity or affiliation with any person, or be likely to deceive any person.
1.6 Give the impression that they represent Zawya.
1.7 Advocate, promote or assist any unlawful act such as (by way of example only) copyright infringement or computer misuse. - The content posted on www.zawya.com is created by members of the public. The views expressed are theirs and unless specifically stated are not those of Zawya. Zawya reserves the right to review all comments prior to posting and edit or delete any contribution, but Zawya is not responsible for and can not be held liable for any content posted by members of the public on www.zawya.com.
- Zawya is not responsible for the availability or content of any third party sites that are accessible through www.zawya.com. Any links to third party websites from www.zawya.com do not amount to any endorsement of that site by Zawya and any use of that site by you is at your own risk.
- By submitting your comment, you hereby give Zawya the right, but not the obligation, to post, air, edit, exhibit, telecast, webcast, re-use, publish, reproduce, use, license, print, distribute or otherwise use your comments worldwide, in perpetuity.
Copyright © 2012 Zawya Ltd. All rights reserved. |
provided by www.zawya.com |
Post Your Comment