Ataa Educational Co.’s retail offering, which closed on July 18, was 426 percent oversubscribed, financial advisor and lead manager HSBC Saudi Arabia said in a statement.
A total of 38,560 investors subscribed to 1.2 million shares worth SAR 148 million, at SAR 29 each.
Surplus refunds will be allocated on July 25 and Ataa will be listed on Tadawul when the required paperwork and regulatory procedures are fulfilled.
The educational firm offered 1.2 million shares, or 10 percent of the offering size, to retail investors on Sunday, July 14.
Ataa’s institutional offering was 202 percent oversubscribed, Argaam earlier reported.
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