The developer of Saudi Arabia’s $8bn Prince Abdul Aziz bin Mousaed Economic City will launch an initial public offering by the end of 2006, a major investor in the project was quoted as saying by Reuters . The developer will offer 150 million shares, representing a 30 per cent stake in the company, which boasts a capital of 5 billion riyals ($1.33bn), said Ahmed Al-Tuwaijry, managing director of Saudi-based Rakisa ...