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Arab News, Thursday, Jun 30, 2022 | Zul Hijjah 1, 1443

Arabian Drilling Co. gets approval to IPO 30% stake on Saudi stock market

Saudi Arabia: Saudi-based Arabian Drilling Co. has received approval for an initial public offering of 26.7 million shares, representing 30 percent of the firm’s capital, on the Kingdom’s stock exchange.

The Capital Market Authority’s approval shall be valid for six months from the authority’s board resolution date. It shall be deemed cancelled if the company’s offering is not completed within this period. 

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