Logo of Nahdi Medical Co.
Nahdi Medical Co. successfully completed its retail offering, with a minimum of three shares allocated to each subscriber, SNB Capital, the lead manager of the company’s initial public offering (IPO), said in a bourse statement today, March 20.
The remaining shares will be allocated on a pro-rata basis, with an allocation rate of 1.243% on a proportional basis.
Retail investors started, on March 13, subscription to about 3.9 million shares of Nahdi Medical, representing 10% of the shares offered, at SAR 131 each. The subscription period ended March 15.
The company offered 39 million shares, representing 30% of its capital, with 90% allocated to participating parties and 10% to retail investors, the statement noted.
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Retail Offering Details |
|
|
Number of Subscribers |
1.1 mln |
|
Offered Shares |
3.9 mln |
|
IPO Price |
SAR 131 |
|
Retail Offering Coverage |
13x |
|
Total Value of Subscribers’ Applications |
SAR 6.76 bln |
|
Share Allocation |
Three shares minimum to each subscriber |
|
Allocation on Proportional Basis |
1.243% |
|
Surplus Refund |
March 23 |
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