Saudi Arabian Mining Company (Ma'aden) signed an Agreement with Sambacapital on Sunday 25/6/1429 (29/9/2008), at its Head Office in Riyadh, appointing Sambacapital as its IPO Manager and Lead Underwriter for the intended Company's IPO, which is scheduled to start on 5 July 2008. The Agreement was signed on behalf of Ma'aden by Dr. Abdullah Dabbagh, Ma'aden's President and CEO and on behalf of Sambacapital by Mr. Eisa Mohammad Al Eisa, Chairman of Sambacapital.
Dr Dabbagh said "the Company's IPO comes in line with the Government's privatization strategy to provide investment opportunities to citizens and enable them reap the benefits of the strong performance of the Government companies such as Ma'aden. It also comes in line with the Company's endeavors to achieve its strategic plans to raise its capital to enable it to implement its expansion strategy and secure funding for its long term programs". Dr Dabbagh further pointed out that choosing Sambacapital as the IPO Manager and Lead Underwriter springs from our great confidence in its established track record in managing IPOs of this caliber.