Leejam allots 10 shares per subscriber in IPO

14/08/2018 Argaam

 

Leejam Sports Co. on Tuesday allotted a minimum of ten shares to each subscriber in its initial public offering (IPO), Samba Capital & Investment Management Co., the financial advisor, bookrunner, lead manager and sole underwriter, said in a statement.

 

The remaining shares will be allotted pro-rata based at an allotment ratio of 34 percent.

 

Share fractions were rounded up allotted pro rata, Samba Capital added.

 

Leejam’s IPO was 245 percent oversubscribed, Argaam reported.

 

A total of 40,413 subscribers purchased 3.9 million shares worth SAR 200.6 million.

 

A total of 90 percent of the IPO shares were offered to institutional investors, covered by 8.3 times, while 1.57 million shares, or 10 percent, were offered to retail investors at a share price of SAR 52, set by the book-building process.

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