Alramz’s retail IPO 36% subscribed

The retail IPO tranche comprised 2.57 million shares at SAR 70 per share

Alramz Real Estate Co.’s retail IPO on the Main Market (TASI) was 36% subscribed from a total of 2.57 million shares offered to retail investors, SNB Capital, the lead manager, financial advisor, underwriter, and bookrunner, said in a Tadawul statement today, Dec. 11.

Accordingly, all shares subscribed by individual investors have been fully allocated, and no surplus will result, SNB said.

According to data available with Argaam, Alramz offered 30% of its shares on TASI through the issuance of 12.86 million new shares, representing 30% of the company’s IPO-post capital.

The developer’s current capital is SAR 300 million, divided into 30 million shares with a par value of SAR 10 per share. Upon completion of the offering, the capital will rise to SAR 428.57 million, divided into 42.86 million shares.

The retail IPO for Alramz began recently, offering 2.57 million shares at SAR 70 per share. The company allocated 20% of the total shares to retail investors.

Accordingly, all shares subscribed by individual investors have been fully allocated, and no surplus will result, SNB said.