Al Arabia allocates 2 shares per individual investor in IPO

Arabian Contracting Services Co. (Al Arabia) allocated a minimum of two shares per individual subscriber.

The remaining shares will be allocated on a pro rata basis at around 0.9% on average, based on the size of each subscriber’s request compared to the total remaining subscribed shares.

The company offered 15 million shares (30% of capital), of which 90% and 10% were allocated for institutional and retail investors, respectively.

Retail investors started on Oct. 26, subscribing to 1.5 million shares of Al Arabia at SAR 100 a share.

A total of 655,179 retail investors subscribed to 1.5 million shares at a total value of SAR 2.223 billion.

For More IPOs