First Mills IPO 997% oversubscribed, 4 shares allotted/subscriber

12/06/2023 Argaam

First Mills IPO 997% oversubscribed, 4 shares allotted/ subscriber

Logo of First Mills

First Milling Co. (First Mills) closed its retail offering, SNB Capital, the financial advisor, bookrunner, lead manager and underwriter on the company’s initial public offering (IPO), said in a statement to Tadawul.  

 

Four shares minimum were allocated per individual subscriber. The remaining shares will be allocated pro rata, with an allocation factor of 2.1552%.

 

IPO Highlights

No. of offered shares

1.665 mln

No. of retail subscribers

334,020

Offering price

SAR 60/share

Retail offering coverage ratio

996.90%

Total value of orders

SAR 995.9 mln

Allocation

Four shares minimum per subscriber

Allocation of remaining shares

On a pro rata basis at 2.1552%

 

The surplus refunds will be paid no later than June 19, 2023. 

 

 

For More IPOs

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