Monday 11, June 2012 by Robin Amlôt
Baker & McKenzie advises Najran Cement Company on IPO
Baker & McKenzie advised Najran Cement Company (NCC) on its Initial Public Offering of 85,000,000 shares at SAR 10 a share (IPO), representing 50 per cent of its share capital at an aggregate offer price of SAR 850,000,000. Part of the proceeds from the offering was paid to NCC to finance the expansion of the company’s cement plant at Sultana, in the Najran Province, and another part was paid to the selling shareholders proportionate to the number of offer shares sold by each selling shareholder. The IPO was very successful and was oversubscribed.
