Logo of East Pipes Integrated Company for Industry
SNB Capital, the financial advisor, bookrunner, lead manager and underwriter on the initial public offering (IPO) of East Pipes Integrated Company for Industry, announced the successful completion of the offering to individual investors.
The retail tranche coverage reached 16.1X. The total number of retail investors was 209,452 subscribing to invest more than SAR 810.8 million at an offer price of SAR 80 per share.
Each retail subscriber will receive a minimum of three shares. The remaining shares will be allocated on a pro-rata basis, based on demand size per retail subscriber to the remaining shares with an allocation factor of 0.0173%.
Fractional shares were collated and allocated one share per application, starting from the highest to lowest order.
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Details of Retail Offering |
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Total number of shares offered |
6.3 million |
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Number of shares offered to retail subscribers |
630,000 |
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Number of retail subscribers |
209,450 |
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Final offer price |
SAR 80 |
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Retail tranche coverage |
16.1X |
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Minimum allocation per subscriber |
3 shares |
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Average allocation factor of remaining retail shares |
0.0173% |
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Total amount of retail applications |
SAR 810.8 mln |
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