SAMBA Capital, the lead manager, underwriter and arranger of Electric Industries Company’s IPO, which ended on November 17th, said that 1.74m investors subscribed to the IPO raising an amount of SAR 1.9bn for 35.28m shares.
The coverage ratio by the end of the IPO was 522.7%.
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IPO details |
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1.74m |
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No. of subscribers |
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SAR 1905.1m |
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Funds raised |
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522.7% |
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Coverage ratio |
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35.28m shares |
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No. of shares requested |
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Determined Monday November 24 |
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No. of shares allocated per investor |
According to Argaam; The Saudi Capital Market Authority approved a request by Electric Industries Co. to sell 13.5m shares or 30% of the company in an initial public offering from November 11 to 17. 50% of the shares were allocated to institutions and 50% to authorized persons.
HSBC Capital said that the shares allocation process and surplus payment will be no later than Monday November 24, 2014.
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Electrical Industries Company’s IPO Status – retail investors |
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Funds raised (SAR million) |
Subscribers (Thousand) |
Coverage ratio (%) |
Day |
|
72.0 |
60.9 |
19.8% |
November 11, 2014 |
|
304.0 |
289.0 |
83.4% |
November 12, 2014 |
|
534.7 |
514.3 |
146.7% |
November 13, 2014 |
|
585.3 |
565.3 |
160.0% |
November 14, 2014 |
|
750.9 |
739.2 |
206.0% |
November 15, 2014 |
|
1144.5 |
1117.9 |
314.0% |
November 16, 2014 |
|
1905.1 |
1740.2 |
522.7% |
November 17, 2014 |
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