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East Pipes Integrated plans IPO

  • The offering will be limited to qualified investors, who should conduct their own due diligence on the information disclosed in the company’s prospectus
  • 6.3 million shares to be floated as the measure has been approved by Saudi Arabia’s Capital Market Authority

East Pipes Integrated Co. will float 6.3 million shares, or 30 percent of its share capital in an initial public offering. The measure has been approved by Saudi Arabia’s Capital Market Authority.

The offering will be limited to qualified investors, who should conduct their own due diligence on the information disclosed in the company’s prospectus, the market regulator said in a statement.