Saudi minerals company Ma'aden will IPO on the Tadawul in early July. Half the government's stake is on offer. The 462.5 million shares have an initial price of SR20, valuing the company at $9.25bn.
To date Ma'aden's activities have focused on gold mining, with operations at Mahd Ad Dahab, Al Hajar, Sukhaybarat, Bulghah, and Al Amar. Ma'aden is now expanding its activities beyond gold bwith the development of Phosphate and Aluminium.