Logo of Nahdi Medical Co.

Nahdi Medical Co. successfully completed its retail offering, with a minimum of three shares allocated to each subscriber, SNB Capital, the lead manager of the company’s initial public offering (IPO), said in a bourse statement today, March 20.

 

The remaining shares will be allocated on a pro-rata basis, with an allocation rate of 1.243% on a proportional basis.

 

Retail investors started, on March 13, subscription to about 3.9 million shares of Nahdi Medical, representing 10% of the shares offered, at SAR 131 each. The subscription period ended March 15.

 

The company offered 39 million shares, representing 30% of its capital, with 90% allocated to participating parties and 10% to retail investors, the statement noted.

 

Retail Offering Details

Number of Subscribers

1.1 mln

Offered Shares

3.9 mln

IPO Price

SAR 131

Retail Offering Coverage

13x

Total Value of Subscribers’ Applications

SAR 6.76 bln

Share Allocation

Three shares minimum to each subscriber

Allocation on Proportional Basis

1.243%

Surplus Refund

March 23

 

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