Logo of Retal Urban Development Co.
Retal Urban Development Co., which will list shares on Tadawul, completed its retail offering and allocated a minimum of five shares per retail subscriber, SNB Capital, the financial advisor, lead manager, bookrunner, and underwriter on the IPO announced. The remaining shares will be allocated on a pro-rata basis, based on the demand size of every subscriber to total shares. The allocation ratio is 0.364%.
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Retail Offering Highlights |
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Total number of offer shares |
12 mln |
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Percentage of capital |
30% |
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Shares allocated to retail investors |
1.2 mln |
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Number of retail subscribers |
233100 |
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Offer price |
SAR 120 |
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Retail offer coverage |
8.88x |
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Total value of retail subscriber orders |
SAR 1.278 bln |
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Allocation |
A minimum of five shares |
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Allocation of remaining shares |
0.364% on a pro rata basis |
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Surplus refund |
No later than June 15 |
The company offered 12 million shares, representing 30% of its capital, of which 90% was allocated to participating parties and 10% to retail investors.
The subscription period for the retail tranche ran through June 5-6. Retail investors fully subscribed to 1.2 million shares at SAR 120 each.
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