RIYADH: Al-Ittefaq Steel Products Co. is intending to offer part of its shares for public subscription on Saudi Arabia’s main market, Jassim Al-Abbas, general manager of business development, sales and marketing, told Argaam.
The value of the company is estimated at over SR8 billion ($2 billion), he said, adding that Hilal Al-Tuwairqi owns around 60 percent of the firm’s capital, while the remaining 40 percent is held by other investors.
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