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May 25 2007

Insurer IPOs oversubscribed

Initial public offerings (IPO) of four Saudi insurers have been oversubscribed, the lead manager said. The IPOs of Saudi Arabian Cooperative Insurance , Allied Cooperative Insurance Group and Al Ahlia were 2.4, 1.4 and 1.6 times oversubscribed, said National Commercial Bank .

© Emirates Today 2007

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