Riyadh – Mubasher: Zahrat Al Waha for Trading will refund the initial public offering (IPO) subscription's surplus on 27 August, Saudi Fransi Capital CEO Waleed Fatani said.
The company’s shares will be listed after all procedures from the relevant authorities are completed, he added.
About 1.803 million shares for subscription were allocated for investment funds, making up 40.07% of the total shares available for subscription, and 1.797 million shares were allocated for institutions, representing 39.93%, Fatani added.
Retail investors could subscribe for 900,000 shares as part of Zahrat Al Waha for Trading’s IPO, at a maximum of 10 shares for each retail investor.
Subscription ended on 20 August, with a coverage ratio of 263.34% for retail investors. Subscribers reached 49,900, pumping SAR 120.87 million through 2.37 million shares at SAR 51 per share.
