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IPO approves Fawaz Al Hokair capital rise
25 Jul '06
1 min read
Fawaz Al Hokair Group, which owns more than 40 international fashion retail brands, has bagged approval from the Saudi Capital Markets Authority (CMA) for an Initial Public Offering (IPO) for Fawaz Abdulaziz Al Hokair and Company.
The international brands of company include world famous brands like Zara, Massimo Dutti, Promod, Adams, Nine West, Aldo and Monsoon.
It has a strong presence in all major fashion retail and clothing segments including womenswear, menswear, kids and teen fashion, footwear and accessories.
With a network of more than 600 stores in the kingdom, the company is legal vehicle for fashion retail business of Fawaz Al Hokair Group.
The share capital of Fawaz Abdulaziz Al Hokair and Company is SR400 million ($104 million) consisting of 40 million fully paid ordinary shares with a nominal value of SR10 ($2.66) each.
Al Hokair will be offering 30 percent of its share capital – 12 million ordinary shares – through the IPO.
The international brands of company include world famous brands like Zara, Massimo Dutti, Promod, Adams, Nine West, Aldo and Monsoon.
It has a strong presence in all major fashion retail and clothing segments including womenswear, menswear, kids and teen fashion, footwear and accessories.
With a network of more than 600 stores in the kingdom, the company is legal vehicle for fashion retail business of Fawaz Al Hokair Group.
The share capital of Fawaz Abdulaziz Al Hokair and Company is SR400 million ($104 million) consisting of 40 million fully paid ordinary shares with a nominal value of SR10 ($2.66) each.
Al Hokair will be offering 30 percent of its share capital – 12 million ordinary shares – through the IPO.
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Jason Kent
British Textile Machinery Association (BTMA)
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