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Oct 08 2007

Saudi Arabia: Insurance firms to float Initial Public Offerings

Three Saudi insurance firms will launch initial public offerings later this month to raise a total of SR269 million (Dh264m), the bourse watchdog Capital Market Authority said.

Trade Union Insurance Company and Al Sagr Company for Cooperative Insurance will offer a 42 per cent stake each. While the Arabia Insurance Cooperative Company will offer a 40 per cent.

© Emirates Today 2007

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