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Mr. Abdul Rahman M. Al-Issa Albilad for Investment CEO and Mr. Mohammad O. Al-Sanusi SITC representative signed the agreement.
Al-Issa expressed his deep appreciation for SITC staff for their confidence in selecting Albilad for Investment as their Financial Consultant, IPO manager and Coverage entrepreneur. He reaffirmed the capabilities of Albilad for Investment to handle the IPO professionally using a qualified team with experience acquired from similar recent operations.
Al-Issa added that Albilad for Investment provides asset management services, financial consultations and trading. It shall continue to use and maintain the transparency and clarity concept in executing IPO assignments. Daily statements shall be released during the IPO period reflecting the IPO progress to be published by various media means.
Al-Sanusi on the other hand declared that the agreement is aimed at satisfying aspirations of the Government and the Company in giving opportunity to the citizens to participate in the anticipated success of the company. The Company also aims at broadening its customer base and ensuring its market share in the communications and IT sector. In an unprecedented initiative in the Kingdom, the company obtained license to offer surface telephone services pursuant to Royal Decree no. 40 dated 18/02/1429H, corresponding to Feb. 25, 2008.
Al-Sanusi said that the surface telephone service shall be delivered to a million residential and commercial locations in the Kingdom. He pointed out that affiliation with (PCCW) international company paves the way for transfer of foreign companies' practical experiences and modern services into the Kingdom. This shall serve individuals and enterprises by providing them with broad-band internet service, linking and leased lines at speeds up to 100 mbps, in addition to video/TV content, on request. (PCCW) is a communications provider in Hong Kong and a number of East-Asian countries.
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