Retal’s IPO on Tadawul 8.88x covered, 5 shares allotted per subscriber
Retal Urban Development Co., which will list shares on Tadawul, completed its retail offering and allocated a minimum of five shares per retail subscriber, SNB Capital, the financial advisor, lead manager, bookrunner, and underwriter on the IPO announced. The remaining shares will be allocated on a pro-rata basis, based on the demand size of every subscriber to total shares. The allocation ratio is 0.364%.
Retal Offering Highlights
| Total number of offer shares | 12 mln |
| Percentage of capital | 30% |
| Shares allocated to Retal investors | 1.2 mln |
| Number of retal subscribers | 233,100 |
| Offer price | SAR 120 |
| Retail offer coverage | 8.88x |
| Total value of retail subscriber orders | SAR 1.278 bln |
| Allocation | A minimum of five shares |
| Allocation of remaining shares | 0.364% on a pro rata basis |
| Surplus refund | No later than June 15 |
The company offered 12 million shares, representing 30% of its capital, of which 90% was allocated to participating parties and 10% to retail investors. The subscription period for the retail tranche ran through June 5-6. Retail investors fully subscribed to 1.2 million shares at SAR 120 each.
Click here to download IPO details
Source: https://www.argaam.com/en/article/articledetail/id/1566435
