Individuals pump 3.1 billion riyals into the "Bin Dawood" IPO

Bin Dawood Holding Company announced the conclusion of the initial public offering (IPO) process for its shares of individual subscribers.

According to Arabiya Net, the company witnessed 324,000 individual subscribers pumping 3.06 billion riyals, with a coverage ratio of 1396%.

and a minimum of 7 shares were allocated 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 the request of each subscriber to the total remaining shares required Subscription in it, at a rate of allocation of 0.05964%.

and indicated that the final allocation and refunds (if any) will be processed no later than October 20, 2020.

The process of building the order book had witnessed orders amounting to 106.9 billion riyals, and the subscription was covered by 4870% of the total shares offered according to the following division:

- Public funds, private funds and discretionary portfolios 1,747%.

- Non-Saudi investors (including those in the Gulf Cooperation Council countries, eligible foreign investors, and non-resident investors via swap agreements) 445%.

- Other entities (including government institutions, private companies, financial institutions and authorized persons) 2,677%.

In addition, the subscription of public funds, private funds and discretionary investment portfolios was covered by 1747%, and by 445% for non-Saudi investors (including investors in the Gulf Cooperation Council countries, Foreign investors, and non-resident investors through swap agreements, finally cover the subscription of other parties (including government institutions, private companies, financial institutions and authorized persons) at a rate of 2677%.

Bin Dawood Holding noted that with determining the final price of the offering at the upper limit of the subscription at 96 Saudi riyals per share, the company's market value upon listing is 10.97 billion riyals (2.93 billion Dollar).

and indicated that, accordingly, the total offering judgment is 2.19 billion riyals ($ 585.22 million), noting that the offering includes 22.86 million ordinary shares of the current company shares that will be sold By current contributors.

The CEO of Bin Dawood Holding Company, Ahmed Abdul Razzaq Bin Dawood, said that the strong turnout from ...