Thursday, Aug 03, 2006
BEIRUT (Zawya Dow Jones)--Islamabad-based Saudi Pak Industrial and Agricultural Investment Co. said at its last board meeting that it will list shares on the Islamabad Stock Exchange, the Riyadh-based al Eqtisadiyah daily reported Thursday.
The paper cited an unnamed source as saying the company hadn't yet filed its request for listing, and that it might take more than six months to obtain approval from Pakistan's Securities and Exchange Commission.
The source also noted that the Saudi and Pakistani governments, the sole owners of Saudi Pak, approved the establishment of a Pakistani real estate subsidiary, with initial capital of $8.2 million.
Established in 1981, Saudi Pak is involved in long-term project financing, short-term working capital financing and equity investment in industrial and commercial projects.
Newspaper Web site: http://aleqtisadiah.com/
-By Nadim Issa, Zawya Dow Jones; +961 1 985757; nadim@zawya.com
(END) Dow Jones Newswires
08-03-06 0614ET
Copyright Zawya Dow Jones Newswires 2006
