Logo of Saudi Home Loans Co.
The retail subscription to shares of Saudi Home Loans Co. (SHL) was 2,644% oversubscribed, said Riyad Capital, the lead manager, financial advisor, and underwriter.
Each retail investor will receive a minimum of three shares, while the remaining shares will be allocated on a pro-rata basis, based on the demand size of every subscriber to total shares.
Fraction shares were collated and allocated in a descending manner at one share per order starting, the company added.
|
Details of Retail IPO |
|
|
No. of retail subscribers |
756,425 |
|
Number of shares offered to retail subscribers |
3 mln shares |
|
Offer price |
SAR 20/share |
|
Retail coverage |
2644.01% |
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Total value of retail applications |
SAR 1,586 bln |
|
Allocation |
3 shares (minimum)/individual |
|
Allocation of remaining shares will be on a pro-rata basis |
0.94836% |
|
Refund to retail subscribers |
Not later than April 6, 2022 |
The company offered 30 million shares in an IPO, representing 30% of its SAR 100-million capital, of which 10% was allocated to retail investors and 90% to institutional investors, according to data compiled by Argaam.
The subscription period for retail investors’ tranche, comprising 3,000,000 shares representing 10% of the total offering at a final offer price of SAR 20 per share, commenced from March 27-29.
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