Al Yamamah Steel Industries’ initial public offering (IPO) was 50.74 percent subscribed by the first day, according to Riyad Capital, the underwriter and manager for the offering.
As many as 93,800 retail investors have injected SAR 83.53 million to buy 2.32 million shares.
The company’s share float for retail investors began on April 27 and will end on May 3. The steel producer is offering up to 4.57 million shares at SAR 36 each.
Al Yamamah was incorporated in 1988 in Riyadh with SAR 508 million in capital.
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