Riyad Capital said the initial public offering (IPO) of Middle East Paper Co. (MEPCO) was 347 percent oversubscribed on its sixth day. 

 

About 20.8 million shares were taken up by 982.1 thousand retail investors for SAR 624.3 million. 


MEPCO's six million share-sale started last Wednesday and will continue until April 14, according to data available on Argaam.

 

Riyad Capital is the financial advisor, lead manager, and underwriter of the IPO.

 

 IPO Details

Raised funds

(SAR mln)

Subscribers

(thousand)

Subscription ratio

Day

91.3

136.2

50.7%

April 8

193.3

289.0

107%

April 9

234.3

349.0

130%

April 10

318.5

480.7

177%

April 11

475.0

727.4

264%

April 12

624.3

982.1

347%

April 13

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