A MARAFIQ water treatment plant
The Securities Depository Center Co. (Edaa) announced the deposit of Power and Utility Company for Jubail and Yanbu’s (MARAFIQ) subscribed securities into the accounts of eligible shareholders today, Nov. 21, according to a bourse filing.
According to data compiled by Argaam, the Capital Market Authority (CMA) approved on Sept. 26, the company's request to float a 29.24% stake, or 73.09 million shares, in an initial public offering (IPO).
A minimum of 10 shares were allocated per individual subscriber. The retail offering was 632% oversubscribed, attracting total orders of nearly SAR 6.37 billion.
The remaining shares will be allocated pro-rata, with an allocation factor of 4.91%.
The company’s institutional offering was 59x covered.
The Jubail-headquartered utility was established in October 2000. Its capital stands at SAR 2.5 billion.
MARAFIQ’s core business is focused on water supply, sewage, waste management and treatment, electricity, gas, steam supply, air conditioning, and construction.
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