Logo of United International Holding Co.
HSBC Saudi Arabia, the financial advisor, lead manager and bookrunner for the institutional subscription and underwriter for the initial public offering (IPO) of United International Holding Co. on the Main Market (TASI), announced the end of subscription to the retail tranche.
A minimum of three shares were allocated to each individual subscriber. Rump shares will be allotted on a pro-rata basis based on demand size at an average allocation factor of 1.6974%, according to a Tadawul statement today, Nov. 25.
The sum of the rump shares was allocated in the following manner: Each investor received an additional allocation of one share in a descending order starting with the highest demand until such shares were sold out.
Details of Retail Subscription:
|
Details of Subscription to IPO |
|
|
Number of shares for retail tranche |
750,000 |
|
Offer price |
SAR 132/share |
|
Retail coverage |
9.1x |
|
Total value of retail requests |
SAR 903.49 mln |
|
Minimum limit |
3 shares |
|
Pro-rata allocation of rump shares |
1.6974% |
According to data available to Argaam, United International’s one-day retail offering of 750,00 shares (10% of offered shares) began on Nov. 19, at SAR 132 each.
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