HSBC with local affiliate Saudi British Bank has been appointed financial adviser on the initial public offering (IPO) of shares in the project company under formation to implement the SR 100,000 million ($26,670 million) King Abdullah Economic City scheme. The founding shareholders are led by Dubai-based Emaar Properties and include the local Aseer Company, Saudi Binladin Group and other local and UAE investors (MEED 23:12:05).
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