Zahrat Al Waha for Trading Co.'s initial public offering (IPO) was 43.3 percent subscribed by the end of its third day on Wednesday, according to Saudi Fransi Capital, the financial advisor and lead manager for the offering.

 

A total of 13,320 retail investors subscribed to 389,850 shares worth SAR 19.88 million over the three-day period.

 

The subscription period for the retail tranche began on August 13 and will continue until August 20. A total of 900,000 shares, or 20 percent out of the total 4.5 million shares floated are offered to investors at SAR 51 per share.

 

The remaining 3.6 million shares, or 80 percent of the offering, will be sold to institutional investors. 

 

Zahrat Al Waha IPO

Subscribers

13,320

Funds raised

SAR 19.88 mln

Coverage ratio by 3rd day

43.3%

Shares for retail investors

900,000 shares

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