Logo of Fourth Milling Co. (MC4)
Fourth Milling Co. (MC4) closed its retail offering, which was nearly 3.94x covered, Riyad Capital, the financial advisor, bookrunner, lead manager and underwriter on the initial public offering (IPO) on the Main Market (TASI), said.
Rump shares will be distributed on a pro-rata basis, determined by demand for these shares, at an average allocation factor of 24.1885%, it added.
Fractional shares were collated and allocated in a descending manner at one share per order.
|
Details of Retail Subscription |
|
|
Number of Offer Shares |
32.4 mln |
|
Offer Price |
SAR 5.30 per share |
|
Coverage Ratio |
3.94x |
|
Total Value of Orders |
SAR 677.05 mln |
|
Minimum Allocation |
10 shares |
|
Allocation of Rump Shares |
24.1885% |
The subscription period for retail tranche, comprising 32.4 million shares at a final offer price of SAR 5.30 apiece (based on the book-building), ran for two days starting Oct. 2, Argaam’s data showed.
The retail tranche represented 20% of the offer shares.
Meanwhile, the institutional offering was recently concluded. It was nearly 119x subscribed.
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