Middle East Healthcare Co. (MEAHCO) has allotted ten shares to each subscriber in its initial public offering (IPO), Samba Capital, the offering’s lead manager and underwriter, said in a statement.
A total of 17.4 million shares, or 63 percent of total share float, were allocated to publicly-traded mutual funds, while the remaining seven percent was allocated to other institutional investors.
Surplus refunds and subscriber dues will be deposited at the receiving banks on Wednesday, the lead manager added.
The company floated 27.61 million shares, or 30 percent of its capital to institutional and retail investors, according to the data available on Argaam.
The company’s share sale was 274.2 percent oversubscribed after a total of 405,960 retail subscribers invested SAR 1.45 billion to buy 22.71 million shares.