SAMBA Capital, the lead manager, underwriter and arranger of Electric Industries Company’s IPO said that 60,927 investors subscribed to the IPO by the end of the first day raising an amount of SAR 72m for 1.33m shares.
The coverage ratio by the end of the first day of retail investors’ IPO was 19.8%.
According to Argaam; The Saudi Capital Market Authority approved a request by Electric Industries Co. to sell 13.5m shares or 30% of the company in an initial public offering from November 11 to 17. 50% of the shares will be allocated to institutions and 50% to authorized persons.
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Electric Industries Company’s IPO Status – retail investors |
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Funds raised (SAR million) |
Subscribers (Thousand) |
Coverage ratio (%) |
Day |
|
72.0 |
60.9 |
19.8% |
November 11, 2014 |
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