Northern Cement Co spends 97 percent of its initial public offerings proceeds

12/08/2014 Argaam

Northern Region Cement Company has spent 97 percent, or SAR 872 million, of its initial public offerings proceeds to date, the company said in a statement to the Saudi bourse, Tadawul.

 

The company received a total of SAR900 million from its IPO that started on March 1, 2013. The spending includes paying off IPO expenses, contractors and buying heavy machinery for its second production line.

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