Logo of Rasan Information Technology Co.
The retail offering of Rasan Information Technology Co., in which individual investors subscribed to 2.27 million shares, or 10% of the total shares on offer, was completed on May 30.
The offering was 12.8x covered. A minimum of three shares were allocated to each subscriber. Rump shares will be allocated on a pro rata basis of nearly 1.038%, depending on the demand size.
The final IPO price was set at SAR 37 per share. As the retail offering closed, the number of shares allocated to participating parties will be scaled down to 20.47 million shares, or 90% of the total shares on offer.
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Offer Details |
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Number of Offer Shares |
22.74 mln |
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Number of Shares Offered to Retail Investors |
2.27 mln |
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Offer Price |
SAR 37/share |
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Coverage Ratio |
12.8x |
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Allocation |
3 shares minimum per subscriber |
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Allocation of Rump Shares |
1.038% on a pro rata basis |
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The company floated 22.74 million shares, representing 30% of its capital. It allocated 90% to participating parties, while the remaining 10% was allotted to individuals.
The retail offering started on May 29.
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