Elm Co.'s building

Riyad Capital, as the lead manager, financial advisor, and underwriter on the potential initial public offering (IPO) of Elm Co. announced the successful completion of the offering to individual investors. 

 

The retail tranche coverage reached 1311.57%, and each Individual subscriber will receive a minimum of six shares, while the remaining shares were allocated on a pro-rata.

 

The remaining shares will be allocated on a pro-rata basis, based on demand size per retail subscriber to the remaining shares with an allocation factor of 0.50214%, Elm said in a statement received by Argaam.

 

Fractional shares were collated and allocated one share per application, starting from the highest to lowest order.

 

Details of Retail Offering

Total number of shares offered

24 mln

Number of shares offered to retail subscribers

7.2 mln

Number of retail subscribers

1.13 mln

Final offer price

SAR 128

Retail tranche coverage

1311.57%

Minimum allocation per subscriber

6 shares

Average allocation factor of remaining retail shares

0.50214%

Total amount of retail applications

SAR 12.09 bln

Refund

No later than Feb. 10, 2022

 

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