MEPCO IPO 177% oversubscribed on fourth day

12/04/2015 Argaam

Al Riyad Capital said the initial public offering (IPO) of Middle East Paper Co. (MEPCO) was 177 percent oversubscribed on its fourth day. 

 

A total of 480,700 retail investors have injected SAR 318.5 million. 


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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