Electric Industries: Today is the last day of retail investors IPO

The IPO of Electric Industries Company, retail investors’ tranche which started on November 11, ends today November 17, 2014.
 

The issuance price was determined through book building process at SAR 54 per share.

1.11m investors subscribed to the IPO by the end of the sixth day raising an amount of SAR 1144.5m for 21.19m shares with a coverage ratio of 314%.

According to Argaam; The Saudi Capital Market Authority approved a request by Electric Industries Co. to sell 13.5m shares or 30% of the company in an initial public offering from November 11 to 17. 50% of the shares will be allocated to institutions and 50% to authorized persons.