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Logo of Riyadh Cables Group Co.
The retail subscription to shares of Riyadh Cables Group Co. was 671.55% oversubscribed, said Riyad Capital, the lead manager, financial advisor and underwriter on the initial public offering (IPO).
Each retail investor will receive a minimum of eight shares, while the remainder will be allocated on a pro-rata basis, based on the demand of every subscriber to total shares.
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Details of Retail IPO |
|
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No. of retail subscribers |
382,342 |
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Number of shares offered to retail subscribers |
3.3 mln |
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Offer price |
SAR 43/share |
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Retail coverage |
671.5% |
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Total value of retail applications |
SAR 952.9 mln |
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Allocation |
8 shares (minimum)/individual |
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Allocation of remaining shares |
Pro-rata at 1.26% |
The subscription period for retail investors ran from Nov. 21-22. It comprised 3.3 million shares, representing 10% of the total offering, at a final offer price of SAR 43 per share.
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