BinDawood’s retail IPO 1,396% oversubscribed

BinDawood Holding Co.’s retail offering was 1,396% oversubscribed, according to NCB Capital, the lead manager of the offering, with Goldman Sachs Saudi Arabia and J.P. Morgan Saudi Arabia Company, as joint-financial advisors.

A total of 324,046 individual investors injected SAR 3.06 billion to buy shares at SAR 96.

The company allocated a minimum of 7 shares to each retail subscriber included in the subscription request. The remaining shares have been allocated on a pro rata basis at around 0.05964%, based on the size of each subscriber’s request compared to the total remaining subscribed shares.

Final allocations and refunds (if any) will be processed no later than Oct. 20.

Retail investors startedon Oct. 8 subscribing to around 2.29 million shares of BinDawood at SAR 96 each, after completing the institutional book-building process. The retail offering closed on Oct. 12.

The institutional offering was 4,870% oversubscribed

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