Al-Hokair Group’s IPO oversubscribed by 329 percent by the last day

Saudi Fransi Capital, the financial advisor, lead manager and underwriter of Abdulmohsen Al-Hokair Group’s IPO, said the number of subscribers to Al-Hokair’s shares increased to 1.68m persons or 328.8 percent by the end of June 3, 2014, the last day of the initial public offering.

The company said that the issuer surplus will be repaid to the investors no later than Tuesday June 10^th, 2014.

According to data available by Argaam; Abdulmohsen al-Hokair Group for Tourism and Development sold 16.5 million shares, or 30 percent of the company, in an initial public offering from May 28 to June 3 2014.

Saudi retail investors can buy up to 8.25 million shares or 50 percent of the total shares offered. Offering price is determined at SAR 50 per share through book building process.