Al Riyad Capital said the initial public offering (IPO) of Middle East Paper Co. (MEPCO) was 177 percent oversu
A total of 480,700 retail investors have injected SAR 318.5 millio
Al Riyad Capital is the financial advisor, lead manager, and underwriter of the IPO.
The company is offering 6 million shares in its IPO, which started last Wednesday and will continue until April 14, according to data available on Argaam.
MEPCO is currently one of the region's largest paperboard producers.
The below table illustrates the IPO's subscriptions since its first day:
|
MEPCO’s IPO |
|||
|
Consolidated profits (SAR mln) |
Subscribers(thousand) |
Coverage ratio |
Day |
|
91.3 |
136.2 |
50.7% |
April 8 |
|
193.3 |
289.0 |
107% |
April 9 |
|
234.3 |
349.0 |
130% |
April 10 |
|
318.5 |
480.7 |
177% |
April 11 |
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