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Sipchem plans IPO in KSA

14th Sep 2005, 11:03 GMT

Saudi International Petrochemical Company has announced plans for an initial public offering to finance its expansion projects. National Commercial Bank is financial adviser for the IPO which officials hope to finalize within five months, reported Arab News. Sipchem is a Saudi closed joint stock petrochemical company with a paid-up capital of $400m and 73 corporate shareholders. [AMEInfo.com]

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