Logo of ACWA Power
International Company for Power and Water Projects (ACWA Power) allocated a minimum of six shares per individual subscriber in its initial public offering (IPO), according to Riyad Capital, lead manager for the offering.
The remaining shares will be allocated on a pro rata basis at around 0.02197% on average, based on the size of each subscriber’s request compared to the total remaining subscribed shares.
A total of 1.35 million retail investors placed orders on SAR 9.05 billion worth of shares. The retail offering was 1,989.96% oversubscribed.
|
Details of Subscription to IPO |
|
|
No. of individual subscribers |
1.35 mln |
|
Number of shares offered for retail investors |
8.12 mln shares |
|
Offer price |
SAR 56/share |
|
Retail coverage |
1989.96% |
|
Total value of retail applications |
SAR 9.05 bln |
|
Allocation |
Six shares per individual subscriber. The remaining shares will be allocated on a pro rata basis at around 0.02197% on average. |
|
Retail subscription period |
Sept. 29 – Oct. 1 |
|
Institutions’ subscription coverage |
248x |
|
Proceeds of institutions’ subscription |
SAR 1127 bln |
|
Total volume of offered shares |
81.2 mln shares |
The utility offered 81.2 million shares (11.1% of capital), of which 90% and 10% were allocated for institutional and retail investors, respectively.
Retail investors started, on Sept. 29, subscribing to 8.12 million shares at SAR 56 per share. The retail offering closed on Oct. 1.
Excess subscription amounts will be refunded by Oct. 5.
The utility provider’s institutional offering was 248 times oversubscribed, drawing orders of nearly SAR 1.127 trillion.
Comments {{getCommentCount()}}
Be the first to comment
رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}
{{comment.DisplayName}}
{{comment.ElapsedTime}}