Riyadh Cables Raises $378 Million as Mideast IPO Boom Continues
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Riyadh Cables Group Co. raised $378 million from an initial public offering, pricing the deal at the top of a range as the Middle East bucks a global downturn.
The Saudi Arabian manufacturer of power and telecom cables sold shares at 43 riyals ($11.44) each, according to a statement. The pricing range was 39 riyals to 43 riyals.