Monday, Jun 08, 2009
DUBAI (Zawya Dow Jones)--Saudi-based GIB Financial Services has been appointed as the lead manager for the upcoming Saudi Steel Pipe stake sale, a senior banker said.
GIB Financial Services, which is a wholly owned subsidiary of Bahrain-based Gulf International Bank, will also act as a financial advisor for the Saudi company, the banker who is involved in the offering told Zawya Dow Jones Monday.
Saudi Steel Pipe Co., also known as Al Anabeeb, said Sunday it plans to sell 16 million shares, or a 31.4% stake, in an initial public offering later this month. The planned IPO will open on June 27 and close on July 3.
-By Mirna Sleiman, Dow Jones Newswires, +971 4 3644966, mirna.sleiman@dowjones.com
Copyright (c) 2009 Dow Jones & Co.
(END) Dow Jones Newswires
08-06-09 0625GMT
