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Two IPOs approved by Saudi regulator

28 June 2010

Saudi Arabia's Capital Market Authority (CMA) has approved two initial public offerings to be completed before the end of the year, Reuters has reported. Al Jouf Cement will offer 50% of its shares to the public, while Abdullah A.M. Al Khodari Sons will offer 30%, CMA said. "Portion of the offered shares will be allocated for mutual funds and authorised persons," the regulator said in a statement. The offering of Al Jouf Cement will take place from Jul 19-25.

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