Tadawul deposits Alandalus IPO shares into shareholders’ portfolios

05/01/2016 Argaam

The Saudi Stock Exchange (Tadawul) said in a bourse statement that Alandalus Property’s new shares were deposited into shareholders’ portfolios on Tuesday. 

 

The real estate firm had allotted seven shares to each subscriber during its recent initial public offering (IPO), according to data available on Argaam.

 

By the end of the first week, the IPO was 469 percent oversubscribed after a total of 1.1 million retail investors spent SAR 702 million to buy 39.4 million shares, Riyad Capital, the manager and underwriter of the offering, recently revealed.

 

Alandalus had offered up to 8.4 million shares individually price at SAR 18. 

 

More on Initial Public Offerings 

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