Saudi Fransi Capital, the financial advisor, lead manager and underwriter of the initial public offering (IPO) of Abdul-Mohsen Al-Hokair Tourism and Development Group said the number of subscribers to Al-Hokair’s shares increased to 1.69 million by the last day of the initial public offering, the shares were oversubscribed by 329 percent and SAR 1367.1mn were raised.
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IPO details |
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|
1.69m |
No. of subscribers |
|
|
SAR 1367.1m |
Funds raised |
|
|
329% |
oversubscription ratio |
|
|
27.34m shares |
No. of shares requested |
|
|
4 shares per investor |
No. of shares allocated per investor |
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|
Al-hokair Group’s shares allocation |
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|
No. of Allocated shares |
No. of investors |
No. of Allocated shares |
No. of investors |
|
109 |
22 |
4 |
1 |
|
113 |
23 |
9 |
2 |
|
118 |
24 |
14 |
3 |
|
123 |
25 |
19 |
4 |
|
128 |
26 |
24 |
5 |
|
133 |
27 |
30 |
6 |
|
138 |
28 |
35 |
7 |
|
143 |
29 |
39 |
8 |
|
148 |
30 |
44 |
9 |
|
152 |
31 |
49 |
10 |
|
157 |
32 |
55 |
11 |
|
163 |
33 |
60 |
12 |
|
168 |
34 |
65 |
13 |
|
173 |
35 |
70 |
14 |
|
178 |
36 |
75 |
15 |
|
183 |
37 |
79 |
16 |
|
189 |
38 |
84 |
17 |
|
193 |
39 |
89 |
18 |
|
203 |
41 |
94 |
19 |
|
208 |
42 |
99 |
20 |
|
104 |
21 |
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4 shares were allocated to each investor and issuer surplus is to be repaid to investors no later than Tuesday June 10th, 2014.
According to data available by Argaam; Abdulmohsen al-Hokair Group for Tourism and Development sold 16.5 million shares, or 30 percent of the company, in an initial public offering from May 28 to June 3 2014.
Saudi retail investors could buy up to 8.25 million shares or 50 percent of the total shares offered. Offering price is determined at SAR 50 per share through book building process.
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