Saudi Company for Hardware (SACO) initial public offering (IPO) was 44 percent subscribed by the end of its first day, according to HSBC Saudi Arabia, the lead manager and underwriter of the offering.
Retail investors subscribed to 1.26 million shares in the first day raising an amount of SAR 88.2 million.
The company is offering a total of 7.2 million shares, of which 2.88 million shares are offered to retail investors at SAR 70 per share from April 22 to April 28, 2015, according to data available on Argaam.
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SACO’s IPO |
|||
|
Funds raised (SAR mln) |
No. of subscribers (thousand) |
Subscription ratio |
Day |
|
88.2 |
70.9 |
44.0% |
April 22, 2015 |
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