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Friday, 27 November 2009 04:30 UAE time

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Car rental firm UniTrans plans IPO

by Reuters on Wednesday, 06 June 2007

Saudi United International Transportation (UniTrans Budget Saudi Arabia) plans an initial public offering for 30% of its capital, its financial adviser said on Tuesday.

Ahead of the launch of a book-building process, National Commercial Bank (NCB) has invited institutional investor interest in the IPO.

"The number of offered shares is 5.49 million, representing 30 percent of the total number of (issued) shares," Hassan al-Jabri, head of NCB's corporate banking arm, said in a statement.

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Up to 70 percent of the offered shares will be sold to institutions and the remaining 1.647 million to the public, the bank said. It did not say when the IPO is scheduled to take place.

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  1. Deal sought on Dubai World, Nakheel debts 19
    26 Nov ' 09 at 20:13
    Red Devil/Sandjocky, I have also had several posts blocked over the past couple of days, posts that speak of the facts only as they...   More  »
  2. UAE real estate market has now hit bottom - analysts 05
    26 Nov ' 09 at 21:36
    Comn' AB is a yo-yo when it comes to news.People forecasting good and then bad. Good and bad and then some more "experts" saying...   More  »
  3. Moody's cuts Dubai GRI ratings amid debt delay 02
    26 Nov ' 09 at 19:51
    Dubai World better change its slogan & reposition itself - Dubai LTD.   More  »

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