Saudi Fransi Capital, the financial advisor, lead manager and underwriter of Abdulmohsen Al-Hokair Group’s IPO, said the number of subscribers to Al-Hokair’s shares increased to 774.5 thousand persons by the end of the 4th day of the initial public offering, or 139.3 percent.
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IPO details at the end of IPO’s fourth day |
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774.5 thousand |
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No. of subscribers |
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SAR 574.7m |
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Funds raised |
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139.3% |
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Coverage ratio |
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11.49m shares |
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No. of shares requested |
According to data available by Argaam; Abdulmohsen al-Hokair Group for Tourism and Development will sell 16.5 million shares, or 30 percent of the company, in an initial public offering from May 28 to June 3 2014.
Saudi retail investors can buy up to 8.25 million shares or 50 percent of the total stocks offered. Offering price is determined at SAR 50 per share through book building process.
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