Morabaha Marina sets SAR 14.60/shr final offer price

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Morabaha Marina Financing Co. (MMFC) set the final offer price at SAR 14.60 per share, according to the updated prospectus.

 

This is the highest in the price range set by the company on May 15, which was between SAR 13.00-14.60.

 

The company added that subscription by participating categories reached 401% of total offered shares.

 

The book-building process for institutional investors ran from May 14-18.

 

MMFC plans to offer 21.4 million shares, or 30% of its SAR 714.29 million capital, after a capital top-up. The shares on offer represented nearly 42.86% of the company’s SAR 500 million capital before this hike.

 

The retail offer will run from May 28-29.

 

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