IPO On The Cards For Saudi Insurer

Solidarity Saudi Takaful Company is gearing up for an initial public offering that will see the company issue 22.2 million shares, according to reports citing chairman Prince Khalid Talal bin Abdulaziz Al Saud. The IPO, which is open to subscription from March 22-28, will provide 40% of the company’s authorised capital. Bahrain’s Solidarity Group and Saudi investors that make up the Solidarity Saudi Takaful Company.