MEPCO IPO 50.7% subscribed on first day

09/04/2015 Argaam

Al Riyad Capital said the initial public offering (IPO) of Middle East Paper Co. (MEPCO) was 50.7 percent subscribed on its first day. 

 

A total of 136,200 retail investors have subscribed to 3 million shares, generating SAR 91.28 million. 

 

Al Riyad Capital is the financial advisor, lead manager and underwriter of the IPO.

 

MEPCO's IPO started yesterday and will last until April 14, according to data compiled by Argaam. The paperboard producer is offering 6 million shares.

 

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