Trading shares of Suleiman Al Habib next Tuesday

According to ArabiaNet, the Securities Depository Center (Deposit) announced the addition of the securities subscribed to Dr. Sulaiman Al Habib Medical Services Group today to the accounts of the Center for eligible shareholders.

Jadwa Investment and Riyad Capital announced that the number of individual subscribers amounted to 224,437 subscribers, requesting the subscription of approximately SAR 1.9 billion of the IPO shares of 5.25 million shares. At a price of 50 Saudi riyals per share, or 710% coverage.

Therefore, a minimum of 10 shares will be allocated to each subscriber in the individual investor segment, after which the remaining shares will be allocated on a pro rata basis based on the value of each subscriber’s request to the total value of the remaining shares to be subscribed, i.e. an allocation rate of approximately 8.6%. Accordingly, the number of shares initially allocated to the institutional investors segment will be reduced to 47.25 million shares (representing 90% of the total offering shares of 52.5 million shares), and it is expected that the procedures for redeeming the surplus will be completed on Monday, March 9, 2020.

Jadwa Investment and Riyad Capital revealed that the entire offering of 52.5 million shares, valued at approximately 2.6 billion Saudi riyals, was subscribed at a price of 50 Saudi riyals per share, which represents the upper limit of the price range used during the build period of the subscription order record. Accordingly, the final coverage rate by institutional and individual investors was 8,270% (83 times), at a value exceeding SAR 217 billion.