Retail subscription for Leejam’s IPO ends today

Retail subscription for Leejam Sports Co.’s initial public offering (IPO) will end today, Tuesday, Aug. 7.

The company is offering 15.72 million shares in the IPO that started on Wednesday Aug. 1.

Ninety percent of the IPO shares were offered to institutional investors, covered by 8.3 times, while 1.57 million shares, or 10 percent, were offered to retail investors at a share price of SAR 52, set by the book-building process.

Leejam Sports Co. has appointed seven receiving banks, including Al Rajhi Bank, Arab National Bank (ANB), Banque Saudi Fransi (BSF), National Commercial Bank (NCB), Saudi British Bank (SABB), Riyad Bank and Samba Financial Group.

As of Dec. 31, 2017, Leejam owned and operated 112 fitness centers, including 108 centers in 23 Saudi cities and four centers in the UAE.