Logo of Miahona Co.
The retail offering of Miahona Co. was successfully completed, said Saudi Fransi Capital, the sole lead manager, joint financial advisor, book-runner and underwriter on the company's initial public offering (IPO).
A minimum of 10 shares were allocated to each subscriber, according to a Tadawul statement issued today, May 27.
Rump shares will be allocated on a pro rata based on the demand size, with an average allocation factor of 11.6%.
The offering was 6.1x covered, the statement added. Based on the retail offering’s result, the number of shares allocated to participating categories will be reduced to 38.62 million, representing 80% of the offering.
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Offer Details |
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Number of Shares Offered |
48.28 mln |
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Number of Shares Allocated to Retail Investors |
9.66 mln |
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Offer Price |
SAR 11.50/share |
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Coverage Ratio |
6.1x |
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Subscription Allocation |
10 shares minimum per subscriber |
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Allocation of Rump Shares |
On a pro rata of 11.6% |
According to data available with Argaam, the company floated 48.28 million shares, or 30% of capital, at a nominal value of SAR 1/share. It allocated 80% to participating parties, while the remaining 20% was allotted to individuals.
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