United Electronics Company plans IPO

5 November 2011: Saudi retailer of consumer electronics and home appliance, United Electronics Co (eXtra) has announced it is set to launch its initial public offering (IPO) in December. The firm has won approval from Saudi Capital Market Authority (CMA) to offer 7.2 million shares, or 30 per cent of the company's share capital in the IPO. Once the bookbuilding process has been completed, the landmark offering will open for subscription for Saudi nationals from December 2011.

Source: Ameinfo