Saudi Arabia's Al-Rajhi Bank and Banque Saudi Fransi are among five banks underwriting a 6 billion riyals ($1.6 billion) rights issue from indebted telecoms operator Zain Saudi, according to the issue prospectus.
Lead manager Saudi Fransi
Banque Saudi Fransi said greater global economic uncertainty in light of the euro zone debt crisis and volatility in oil prices over the last two months has taken a toll on sentiment among Saudi business executives.
The BSF Business Confid
Zain in Saudi Arabia, the new mobile entrant into Saudi market has appointed Banque Saudi Fransi (BSF) as the lead manager for its forthcoming IPO.
The company also signed the underwriting and receiving bank agreements with BSF for the man