Monday 30, June 2008 by Mike Gallagher

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.