The share of Alkhorayef Water and Energy Technology rose by 30% on the first trading day in the Saudi stock market.
The stock achieved gains of 21.6 riyals after reaching the level of 93.6 riyals, as the share subscription price was 72 riyals.
According to Arabiya Net, Saudi Fransi Capital, the financial advisor and lead manager of AlKhorayef for Water and Energy Technology, said that the coverage ratio for individual subscriptions is 1511.52%.
The number of individual subscribers reached 136,988 subscribers who pumped 816,220,800 riyals to subscribe to the number of 750,000 shares at a price of 72 riyals per share.
According to what was stipulated in the prospectus, 750,000 ordinary shares were allocated to individual subscribers, representing 10% of the total shares offered for public subscription, while 6,750,000 ordinary shares were allocated to institutionalized subscribers, which represent 90% of the total shares offered for subscription. p>
It is mentioned that a minimum of 5 shares were allocated to each subscriber in the retail investor segment, while the remaining shares were allocated on a pro-rata basis based on the size of each subscriber's request to the total shares The remaining required to be subscribed to.
