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Saudi Bank Al Jazira says wins approval for insurance unit IPO

Tue, 2013-04-16 15:59 — newsdesk

Saudi's Bank Aljazira has gotten the approval to sell shares in its insurance unit Aljazira Takaful Taawuni Co. The unit will offer 10.5 million shares at 10 riyals per share in IPO. Bank Aljazira plans to own 30 percent in the new firm. The new firm is to have capital of 350 mln riyals.

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