Retail subscription for Theeb Rent a Car’s IPO starts Sunday

Logo of Theeb Rent a Car Co.

Retail investors will start subscription for 1.29 million shares of Theeb Rent a Car Co. for one day on Sunday, March 21, 2021, at SAR 40 per share.

The company floated 12.9 million shares, representing 30% of its total shares in a public offering of which 10% or 1.29 million shares were allocated to retail investors.

The remaining 90% of the offering was allocated to institutional investors and was 6,010% oversubscribed.

Saudi Fransi Capital, the financial advisor, lead manager, bookrunner and underwriter for the IPO, said it has completed all the necessary preparations for receiving subscriptions from retail investors with the receiving banks, Banque Saudi Fransi, Riyad Bank, and National Commercial Bank (NCB).

The retail investor should specify the number of shares they wish to apply in the subscription application form. Subscription with less than 10 shares or fractions of shares will not be accepted, and any subscription to shares higher than that must be in multiples of 10, up to a maximum of 250,000 shares.

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