Ataa Educational Co. allotted a minimum of ten shares to each subscriber in its initial public offering (IPO), financial advisor and lead manager HSBC Saudi Arabia said in a statement on Thursday.

 

The remaining shares will be allotted pro-rata. Share fractions were rounded up and allotted pro rata, HSBC Saudi Arabia added.

 

Surplus refunds will be allocated today, July 25 and Ataa will be listed on Tadawul when the required paperwork and regulatory procedures are fulfilled.

 

The educational firm's retail offering, which closed on July 18, was 426 percent oversubscribed.

 

Related: Ataa Educational retail offering 426% oversubscribed

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