Amlak International’s institutional IPO 500% oversubscribed

NCB Capital, the financial advisor, lead manager, underwriter, and institutional book runner for Amlak International for Real Estate Finance’s initial public offering (IPO) announced that the institutional book building process was successfully completed at SAR 16 per share.   

The offered shares were 500% oversubscribed, as per the following breakdown:

1) Public Funds, Private Funds and Discretionary Portfolios (43.4%).

2) Authorized persons, Tadawul-listed companies, insurance firms, private companies, charities and QFIs (56.6%).

Institutional investors and funds have subscribed to all shares. A total of 27.18 million shares or 100% of the offering size were allocated to institutional investors, subject to a scaleback to 90% or 24.46 million shares.

The IPO price range was set between SAR 15 and SAR 17 per share.

The retail offering will start from July 2 until July 5.

A 10%, or a maximum of 2.72 million shares, will be offered to retail investors.

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