TALCO retail offer 17.4x covered, 1 share minimum allocated per subscriber

Logo of Al Taiseer Group Talco Industrial Co. (TALCO)

The retail offering of Al Taiseer Group Talco Industrial Co. (TALCO) successfully completed, said Alinma Investment, the lead manager, financial advisor, book-runner and underwriter on the company's initial public offering (IPO).

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A minimum of one share was allocated to each subscriber. The offering was 17.4x covered, with a total demand of about SAR 900.12 million. 

Rump shares will be allocated on a pro rata basis, based on the demand size, with an average allocation factor of 2.5389%.

Fractional shares were collated and allocated one share per application in descending order starting from the highest order.

According to data available with Argaam, the company floated 12 million shares, or 30% of capital. It allocated 90% to participating parties, while the remaining 10% was allotted to individuals.

The two-day retail offer started on May 28.