An initial public offering will soon be launched by Emaar Economic City to raise $680 million to lead the development of the King Abdullah Economic City, to be located on the Red Sea coast of Saudi Arabia.
Emaar Economic City, a joint venture of Saudi investors and Emaar Properties of the UAE, will offer a 30 percent stake, launching the IPO later this month.
Several sources confirmed the IPO’s imminence, saying, "We are ready to go," and "It will take place by the end of this month," according to Reuters.
