Saudi Ground Services Co’s initial public offering was 264.6 percent oversubscribed, as retail investors subscribed to 59.7 million shares by the last day of the process, according to HSBC, the underwriter and manager of the IPO.
So far, as many as 1.66 million investors have paid SAR 2.98 billion, or SAR 50 a share, in the IPO that started a week ago.
SGS has allocated 22.56 million shares to retail investors.
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