Alsaif Gallery institutional offering 1,550% covered, IPO priced at SAR 115/share

04/12/2022 Argaam
Logo ofAlsaif Gallery

Logo of Alsaif Gallery

Al-Saif Stores for Development & Investment Co. (Alsaif Gallery) announced the successful completion of the book-building process for institutional investors, where the final offer price was set at SAR 115 per share, with a coverage ratio of 1,550%.

 

The participating categories subscribed for all the offered shares, for which 10.5 million shares were allocated, representing 100% of the total shares offered for subscription in the first stage, the company said in a statement, a copy of which was received by Argaam.

 

With the successful completion of the book-building process, a maximum of 1.05 million shares representing 10% of the total offer shares will be allocated to retail investors.

 

The retail offering is slated to run for two days, starting Dec. 5, according data available with Argaam.

 

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