Logo of Almajed Oud Co.
The retail offering of Almajed for Oud Co. was 821.33% oversubscribed as retail investors subscribed to 1.50 million shares, said Saudi Fransi Capital, the financial advisor, lead manager, book-runner and underwriter on the initial public offering (IPO).
A minimum of six shares were allocated to each subscriber, according to a Tadawul statement today, Sept. 18.
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Offer Details |
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Number of Shares Offered |
7.5 mln |
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Number of Shares Allocated to Retail Investors |
1.5 mln |
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Offer Price |
SAR 94/share |
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Coverage Ratio |
821.33% |
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Subscription Allocation |
6 shares minimum per subscriber |
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Allocation of Rump Shares |
On a pro rata of 0.7634% |
The company offered 7.5 million shares, representing 30% of its capital, to the public. It allocated 80% of the shares on offer to participating categories, while the remaining 20% were allocated to retail investors.
The retail offer took place on Sept. 15.
The coverage ratio for participating categories reached 15,646% of the total shares offered (more than 156 times).
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