Samba to lead Ma’aden IPO
Samba Financial Group has been appointed the lead manager for Saudi Arabian Mining Company (Ma’aden) forthcoming IPI according to Riyadh-based paper Al Riyadh. JP Morgan has been appointed as financial advisor. The $2.5 billion IPO will run from 5 to 14 July and Ma’aden plans to list 50 per cent of its capital on the Tadawul, roughly 460 million shares at SR20 ($5.33) a share. The IPO is open to Saudi institutional and investors only. The remaining 50 per cent will stay with the government.