Al-Ahli Capital, Director of Amlak International Real Estate Finance Company underwriting, announced the successful completion of the process of building the order book for institutions and investment funds subscribed to the company’s shares.
According to ArabiaNet, the coverage ratio reached 500% at a price of 16 riyals per share.
The coverage ratio for public funds, special funds, and managed funds by authorized persons is 43.4%.
The coverage percentage for licensed persons, companies listed in the Saudi market, insurance companies, private companies, charitable institutions and qualified foreign investors was 56.6%.
>Al-Ahli Capital added that it has completed with the financial institutions that have received all the necessary preparations for the success of the public offering, which will start on Thursday, July 2, and end on Sunday, July 5. p>
Al-Ahli Capital revealed that the participating institutions and investment funds have subscribed to all the offered shares, where (27.180,000) shares were allocated, representing 100% of the total shares offered for subscription. As a first stage, it is clarified that with the successful completion of building the record of orders for institutions and investment funds, it will, as a second stage, allocate a maximum of (2.718,000) shares, representing 10% of the total shares offered for public subscription for individual subscribers, indicating that it is entitled The subscription manager, with the approval of the Capital Market Authority, may reduce the number of shares allocated to the participating entities to (24.462,000) shares, representing 90% of the total offering shares.
It has been agreed with the recipients of the subscription (The Saudi Investment Bank, The National Commercial Bank, Al-Rajhi Bank, and Al-Jazira Bank) to ensure that all the information and platforms that investors need within are provided Its subsidiaries and electronic channels to receive subscription applications, including recipient websites, ATMs and phone banking services.
It is mentioned that Amlak International Company specializes in real estate financing in compliance with Islamic Shari’ah for both companies and individuals alike, where its umbrella extends to the various real estate needs of companies and individuals, including This includes prefabricated property financing, financing the purchase of real estate under construction from approved developers, or financing the purchase of land or financing the construction of the property. Amlak International is one of the partners supporting the programs adopted by the Ministry of Housing and the Real Estate Development Fund to expand the housing owners' base and accelerate their access to the necessary financing.
