Alandalus retail IPO ends today

Alandalus Property's initial public offering (IPO) for retail investors, which started on December 17, ends today, December 23.  

In November, the company obtained the approval of the Saudi market regulator to sell 21 million shares, or 30 percent of its capital, according to data compiled by Argaam.

Retail investors were eligible to buy the remaining 40 percent, or 8.4 million shares, at SAR 18 per share. Institutional investors are eligible to subscribe to 60 percent of the floated shares.

The retail offering was nearly 238 percent oversubscribed until Monday, as 633,100 retail investors have injected SAR 359.5 million to buy 20 million shares. 

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