Riyadh Cables retail IPO 671.5% oversubscribed; 8 shares allotted per subscriber

Logo of Riyadh Cables Group Co.

The retail subscription to shares of Riyadh Cables Group Co. was 671.55% oversubscribed, said Riyad Capital, the lead manager, financial advisor and underwriter on the initial public offering (IPO).

 

Each retail investor will receive a minimum of eight shares, while the remainder will be allocated on a pro-rata basis, based on the demand of every subscriber to total shares.

 

Details of Retail IPO

No. of retail subscribers 

382,342

Number of shares offered to retail subscribers 

3.3 mln

Offer price 

SAR 43/share 

Retail coverage 

671.5%

Total value of retail applications 

SAR 952.9 mln 

Allocation 

8 shares (minimum)/individual 

Allocation of remaining shares

Pro-rata at 1.26%
 

The subscription period for retail investors ran from Nov. 21-22. It comprised 3.3 million shares, representing 10% of the total offering, at a final offer price of SAR 43 per share.

 

For More IPOs

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