Al Mawarid retail IPO 1644.9% oversubscribed, one share/subscriber

A minimum of one share was allocated per individual subscriber. The remaining shares will be allocated pro rata, with an allocation factor of 2.85%.

Fractional shares were collected and allocated at one share per application in descending order from the highest order. Retail investors started, on May 28, subscription to about 450,000 shares of Al Mawarid at SAR 64 each, as set by the book-building process. The retail offering ran three days until May 30, according to data available with Argaam.

Institutional offering ended last week and was 54 times covered.

Retail investors started, on May 28, to subscribe to about 450,000 shares of Al Mawarid Manpower at SAR 64 each, as set by the book-building process, according to data available with Argaam.

The subscription process ended on May 30.

The company’s institutional offering was 54x covered.