Theeb institutional IPO 6,010% oversubscribed, final offer price set at SAR 40

Logo of Theeb Rent a Car

Theeb Rent a Car successfully completed the book-building process for institutional investors and set the final offer price at SAR 40 per share, with a coverage ratio amounting to (6,010%) of the total offer shares, Saudi Fransi Capital, the Financial Advisor, Lead Manager, Bookrunner and Underwriter, and EFG Hermes KSA, the Institutional Bookrunner of the Initial Public Offering (IPO), said in a statement.

The participating entities fully subscribed to the offered shares, as 12.9 million ordinary shares were allocated to them, representing 100% of the total shares offered for subscription.

Upon the successful completion of the book-building process, as a second stage, a total of 1.29 million ordinary shares, representing 10% of Theeb’s capital, will be allocated to retail subscribers as a maximum.

Saudi Fransi Capital added that it has completed, with the receiving banks, Banque Saudi Fransi, Riyad Bank, and National Commercial Bank (NCB) all necessary preparations for receiving subscriptions from retail investors, which will run for one day only, on March 21 only.

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