The percentage of individual subscription coverage in the Saudi Tadawul Group offering reached 442.5%.
Today, Monday, NCB Capital announced as lead manager, financial advisor, institutional bookrunner, international coordinator and underwriter, JPMorgan Saudi Arabia and Citigroup Saudi Arabia as financial advisors, bookrunners, international coordinators and underwriters for the potential initial public offering of Saudi Arabia’s Tadawul Holding Group. On the completion of the offering process for the individual category and allocating a minimum of 10 shares to each individual subscriber included in the subscription application, while the remaining shares will be allocated on a pro-rata basis based on the size of each subscriber’s request to the total remaining shares required to be subscribed, with an allocation rate of 11.5206% on a pro-rata basis .
The number of individual participants in the offering amounted to 598,327 individuals, and the total value of individual requests reached 5.02 billion riyals. The surplus subscription to individual subscribers will be refunded no later than December 8, 2021.
Last Thursday, the individual subscription phase of the Saudi Tadawul Group ended, as 10.80 million shares were allocated, representing 30% of the total shares offered for public subscription to individual subscribers as a maximum.
The individual subscription period started last Tuesday, November 30, 2021, and for a period of 3 days, ending on Thursday, December 2, 2021.
Last Monday, the Saudi Tadawul Group’s offering managers announced the successful completion of the process of building the order book for the categories participating in the company’s shares, and setting the final offer price at 105 Saudi riyals per share, with a coverage rate of 121 times of the total offered shares.
The Saudi Tadawul Group had set an indicative price range for the initial public offering between 95 to 105 riyals per share.
Participation in order book building was limited to categories qualified to participate in the order book building process in accordance with the instructions for book building and allocating shares in initial subscriptions issued by the Board of the Capital Market Authority.