Elm Co.'s building
Riyad Capital, as the lead manager, financial advisor, and underwriter on the potential initial public offering (IPO) of Elm Co. announced the successful completion of the offering to individual investors.
The retail tranche coverage reached 1311.57%, and each Individual subscriber will receive a minimum of six shares, while the remaining shares were allocated on a pro-rata.
The remaining shares will be allocated on a pro-rata basis, based on demand size per retail subscriber to the remaining shares with an allocation factor of 0.50214%, Elm said in a statement received by Argaam.
Fractional shares were collated and allocated one share per application, starting from the highest to lowest order.
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Details of Retail Offering |
|
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Total number of shares offered |
24 mln |
|
Number of shares offered to retail subscribers |
7.2 mln |
|
Number of retail subscribers |
1.13 mln |
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Final offer price |
SAR 128 |
|
Retail tranche coverage |
1311.57% |
|
Minimum allocation per subscriber |
6 shares |
|
Average allocation factor of remaining retail shares |
0.50214% |
|
Total amount of retail applications |
SAR 12.09 bln |
|
Refund |
No later than Feb. 10, 2022 |
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