Saudi Dairy and Foodstuff Company (SADAFCO) intends to offer 30 percent of its shares to public that will be fully underwritten by National Commercial Bank (NCB), <i>Arab News</i> reported Wednesday. "Familiar to consumers across the Gulf, the initial Public Offering (IPO) of shares is the logical next step for SADAFCO after it became a joint stock company in 2000 as part of a program to reinforce its position as a regional leader in the dairy and foodstuff market," SADAFCO Managing Director, Ahmed Mohammed Al-Marzouki was quted as saying.
