Almajed Oud retail offer 821% covered; 6 shares allocated per subscriber

Logo of Almajed Oud Co.

The retail offering of Almajed for Oud Co. was 821.33% oversubscribed as retail investors subscribed to 1.50 million shares, said Saudi Fransi Capital, the financial advisor, lead manager, book-runner and underwriter on the initial public offering (IPO).

A minimum of six shares were allocated to each subscriber, according to a Tadawul statement today, Sept. 18.

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Offer Details
Number of Shares Offered	7.5 mln
Number of Shares Allocated to Retail Investors	1.5 mln
Offer Price	SAR 94/share
Coverage Ratio	821.33%
Subscription Allocation	6 shares minimum per subscriber
Allocation of Rump Shares	On a pro rata of 0.7634%

The company offered 7.5 million shares, representing 30% of its capital, to the public. It allocated 80% of the shares on offer to participating categories, while the remaining 20% were allocated to retail investors.

The retail offer took place on Sept. 15.

The coverage ratio for participating categories reached 15,646% of the total shares offered (more than 156 times).

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