Zahrat Al Waha for Trading Co.'s initial public offering (IPO) was 106.4 percent subscribed by the end of the fourth day, according to Saudi Fransi Capital, the financial advisor and lead manager for the offering.
A total of 19,200 retail investors subscribed to 957,700 shares worth SAR 48.8 million over the four-day period.
The subscription period for the retail tranche began on August 13 and will continue until August 20. A total of 900,000 shares, or 20 percent out of the total 4.5 million shares floated, are offered to investors at SAR 51 per share.
The remaining 3.6 million shares, or 80 percent of the offering, will be sold to institutional investors.
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Zahrat Al Waha’s IPO |
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Day |
Coverage |
Subscribers (000’) |
Funds raised (SAR mln) |
|
Third day |
43.3 % |
13.3 |
19.9 |
|
Fourth day |
106.4 % |
19.2 |
48.8 |
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