Middle East Healthcare Co.’s (MEAHCO) initial public offering (IPO) was 274.2 percent oversubscribed by the end of the last day, according to Samba Capital, the underwriter and lead manager in the offering.
A total of 405,960 retail investors invested SAR 1.45 billion through the purchase of 22.71 million shares.
Allotment and surplus refunds are set to be announced on Wednesday.
On March 3, the company kicked off the share sale, 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.
MEAHCO had earlier obtained approval from Saudi Arabia's market regulator, the Capital Market Authority (CMA), to offer a total of 27.61 million shares, or 30 percent of its capital, of which 70 percent would be allocated to institutional investors.
|
MEAHCO IPO |
|||
|
Day |
Coverage |
*Subscribers (thousand) |
*Funds raised (SAR mln) |
|
March 9, 2016 |
274.2 % |
405.96 |
1453.6 |
|
March 8, 2016 |
68.7% |
223.3 |
364.2 |
|
March 7, 2016 |
41.5% |
141.5 |
219.8 |
|
March 6, 2016 |
23.3% |
92.4 |
123.3 |
Comments
{{DisplayName}}
{{ElapsedTime}}