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| EEC unveils prospectus for SR 2.55 billion IPO Emaar the Economic City (EEC), a consortium headed by global real estate major Emaar Properties PJSC and a number of high profile investors from Saudi Arabia, has unveiled its prospectus in advance of the initial public offering (IPO) to raise SR2.55 billion (US$679.9 million). The IPO of 255 million shares at a nominal value of SR10 (US$2.66) each aims to raise 30 per cent of EEC's total share capital of SR8, 500 million (US$2.27 billion). Approved by the Capital Market Authority (CMA) of Saudi Arabia, the IPO will be only for ten days from July 22 to August 2, 2006. write your comments about the article :: © 2006 Construction News :: home page |