Electrical Industries Co. has been placed on the list of Saudi Arabia’s Sharia-compliant companies for this year, according to Abdul Aziz Fawzan Al-Fawzan, chairman of the Comparative Jurisprudence Department of the Higher Institute of Judiciary.
The company, based in Dammam city, launched an initial public offering on Tuesday to sell 13.5 million of its shares at SAR 54 per share.
The IPO is set to last from Nov. 11 to Nov. 17, according to data available on Argaam.
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