Saudi group Almutlak delays IPO to second half 2011


JEDDAH, Saudi Arabia, March 29 (Reuters) - Saudi automotive group Almutlak Trade and Industries has postponed an initial public offering to the second half of 2011 after becoming involved in new expansion projects, its financial adviser said. "Once these projects have started operating, it is expected to enhance the value of the company and its shares," said Faisal Alsayrafy, chief executive of Financial Transaction House, the lead financial adviser for Almutlak group. The firm had ...

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