Saleh A. Al Rashed retail IPO 161% covered

09:32 AM (Mecca time) Argaam
Saleh Abdulaziz Al Rashed Sons Co.(SAR) completed its retail offering, with investors subscribing to SAR 121.5 million worth of shares

Saleh Abdulaziz Al Rashed & Sons Co. (SAR) completed its retail offering, with investors subscribing to SAR 121.5 million worth of shares

Saleh Abdulaziz Al Rashed & Sons Co. (SAR) completed its retail offering on the Main Market (TASI), ANB Capital, the financial advisor, bookrunner, underwriter and lead manager, said in a statement to Tadawul.

 

A total of 38,316 retail investors placed nearly SAR 121.5 million worth of buy orders on shares priced at SAR 45 each. The retail offer was 161% oversubscribed.

 

A minimum of 10 shares was allocated per retail investor, with remaining shares to be distributed pro rata at an average allocation factor of 55.7%.

 

Offer Details

Number of Offer Shares

1.67 mln

Offer Price

SAR 45/share

Coverage Ratio

161%

Retail Tranche

SAR 121.5 mln

Minimum Limit

10 shares

Pro-Rata Allocation of Rump Shares

55.7%

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