Edaa deposits Almajed Oud securities into shareholder accounts

Logo of Almajed for Oud Co.

Securities Depository Center Co. (Edaa) announced adding Almajed for Oud Co.’s subscribed securities into the accounts of eligible shareholders today, Oct. 1, according to a statement to Tadawul.

The company offered 7.5 million shares, representing 30% of its capital, to the public. It allocated 80% of the shares on offer to participating categories, and the remaining 20% to retail investors, Argaam reported.

The retail offering was 821.33% covered as retail investors subscribed to 1.50 million shares. A minimum of six shares were allocated to each subscriber. The remaining shares were allocated pro rata at 0.7634%.

The coverage ratio for participating categories reached 15,646% of the total shares offered (more than 156 times).