Middle East Healthcare Co.’s (MEAHCO) initial public offering (IPO) was 23.3 percent subscribed by the end of the fourth day, according to Samba Capital, the underwriter and lead manager for the offering.
A total of 92,400 subscribers have so far invested SAR 123.3 million through the purchase of 1.93 million shares.
On Thursday, the company kicked off the IPO, offering up to 8.28 million shares, or 30 percent of floated shares, to retail investors at SAR 64 per share, according to data available on Argaam.
The offering will end on Wednesday, March 9, and will later extend to institutional investors who have been allocated 70 percent of floated shares.
MEAHCO is offering total of 27.61 million shares, or 30 percent of its capital. The healthcare firm is holding the first IPO on Tadawul this year.
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