Saudi-based floor covering manufacturer Alsorayai Trading and Industrial Group will raise SR243 million ($64.8 million) from an initial public offering that starts Monday, the IPO’s financial adviser said. “We priced the shares at SR27 each,” a

The Initial Public Offering (IPO) of Al Sorayai Trading and Industrial Group will start on Monday 17/02/1431H (corresponding to 01/02/2010G) and continue until Sunday 23/02/1431H (corresponding to 07/02/2010G) at SR27 per share (SR10 as nominal value and

The Gulf Hotel has promoted Abdulla Siddiq as deputy general manager effective from this month. "Mr Siddiq's promotion is part of the Gulf Hotel's strategy in developing Bahraini professionals and follows the succession plans formulated by Gulf Hotels

Saudi Hotels & Resorts Areas Co., an operator of hotels and housing compounds in the kingdom, said fourth-quarter profit declined 41 percent on lower occupancy. Net income fell to 19.9 million riyals ($5.3 million) from 33.8 million riyals in the

Jarir Marketing Co., Saudi Arabia’s largest stationery and book seller by market value, said fourth- quarter profit advanced 28 percent on higher sales. Net income increased to 102 million riyals ($27.2 million) from 80 million riyals in the