Jun.09, 2022

Retal’s IPO on Tadawul 8.88x covered, 5 shares allotted per subscriber

اكتتاب "رتال للتطوير العمراني" في السوق الرئيسي: 8.88 مرة نسبة التغطية.. وتخصيص 5 أسهم كحد أدنى لكل مكتتب

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

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