Amlak International for Real Estate Finance will close its retail offering today, July 5, which started on July 2.

 

The company floated 27.18 million shares, or 30% of its share capital, of which 90% were allocated for institutions, with the remaining 10%, or a maximum of 2.72 million shares, were offered to retail investors.

 

The institutional book building process was successfully completed at SAR 16 per share.

 

The offered shares were 500% oversubscribed.

 

Receiving banks are Saudi Investment Bank (SAIB), National Commercial Bank (NCB), Al Rajhi Bank and Bank Aljazira.

 

The company’s core activity is to provide real estate financing to companies and individuals. It operates in three branches in Riyadh, Jeddah and Khobar.

 

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