Logo of Saudi Tadawul Group Holding Co.
Saudi Tadawul Group Holding Co.'s retail offering was 442.53% oversubscribed, with total orders worth SAR 5.02 billion.
This was announced by SNB Capital, the lead manager, financial advisor, book-runner, global coordinator and underwriter, as well as JP Morgan Saudi Arabia, and Citigroup Saudi Arabia, the financial advisors, book-runners, global coordinators and underwriters on the initial public offering.
Individual subscribers will each receive a minimum of 10 shares. The remaining shares will be allocated on a pro-rata basis with an average allocation factor of 11.5206%.
The fractional shares were collated and allocated on a pro rata basis starting from the highest in a descending order.
|
IPO – Retail Offering |
|
|
Number of shares offered |
36 mln |
|
Number of shares offered to individuals |
10.8 mln |
|
Number of subscribers |
598,330 |
|
Final offering price per share |
SAR 105 |
|
Retail tranche coverage |
442.53% |
|
Minimum allocation |
10 shares |
|
Average allocation factor of remaining retail shares |
11.5206% |
|
Total amount |
SAR 5.02 bln |
Refunds to retail investors will be processed no later than Dec. 8.
Saudi Tadawul Group offered 36 million shares, representing 30% of its capital, in the IPO, allocating 70% to participating parties and 30% to individual investors.
The subscription period for individual investors’ tranche commenced on Nov. 30 and ended on Dec. 2.
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