AI Summary
The retail investor subscription period saw participation from 77,400 investors
A minimum of 10 shares was allocated to each investor in the retail tranche.
As many as 77,444 subscribers took part in the offering, which was 200.24% oversubscribed.
Rump shares will be allocated on a pro rata basis, based on the size of each investor’s request proportional to the total remaining shares, at an average allocation factor of 16.17%, the statement added.
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Retail Subscription Details |
|
|
Number of Shares |
960,000 |
|
Offering Price |
SAR 85/share |
|
Coverage Ratio |
200.24% |
|
Number of Subscribers |
77,444 |
|
Total Orders |
SAR 163.4 mln |
|
Minimum Limit |
10 shares |
|
Allocation of Rump Shares |
16.17% (On a pro rata basis) |
The company floated 4.8 million shares, or 30% of capital, in an IPO on TASI. As much as 20% of the total was allocated to retail subscribers and 80% to institutions, according to Argaam's data.
On Aug. 19, individuals began subscribing to 960,000 shares at SAR 85 each. The offering ended on Aug. 20.
The institutional tranche of the sale was 967% covered.
Surplus refunds, if any, will commence on Aug. 27, the company added.
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