The Saudi Capital Market Authority (CMA) has recently announced the offering dates for the initial public offering (IPO) of Hail Cement Company (HCC). The total size of the offering is SR489.5 million, valued at SR10 per share. The subscription period will commence from Sept. 20 and end on Sept. 26, 2011. The approval of HCC's IPO confirms Gulf Investment Bank Financial Services (GIBFS) status as a market leader, being the only investment bank in Saudi Arabia that has successfully executed at least one IPO transaction every year since 2008, the bank said in a statement Sunday. In 2008, GIBFS acted as financial adviser for the IPOs for Halwani Bros. Company and Abdulla Al Othaim Markets Company. In 2009, GIBFS was the financial advisor for Saudi Steel Pipe Company IPO, which was the first premium IPO in Saudi Arabia after the impact of the credit crisis. In 2010, GIBFS advised on the IPO of Abdullah A.M. Al-Khodari Sons Company, the first general contracting company to be listed on the Saudi Stock Exchange (Tadawul) and the largest premium IPO in Saudi Arabia since 2008. Commenting on the approval of the IPO for Hail Cement Company, Gulf International Bank's (GIB) Chief Executive Officer, Dr. Yahya A. Alyahya, said it "reflects on the skills and capabilities of GIBFS as the leading provider of corporate finance advisory services," noting that "while the global and regional markets have faced difficulties since 2008, GIBFS has demonstrated its commitment to the Saudi capital market and to its clients by continuously bringing investment opportunities to investors. GIBFS's ability to repeatedly raise equity capital throughout difficult market conditions reflects on the strength of its brand name and the quality of its investment banking team."