East Pipes Integrated Co. to float 6.3m shares in IPO

RIYADH: Saudi Arabia's Capital Market Authority approved the request of East Pipes Integrated Co. for Industry to float 6.3 million shares, or 30 percent of its share capital, in an initial public offering.

 The offering will be limited to qualified investors, who should conduct their own due diligence on the information disclosed in the company’s prospectus, the market regulator said in a statement.