The Saudi Public Investment Fund and STC have set the final price of the secondary public offering shares at 100 riyals for individuals and institutions, after completing the process of building a book of orders by institutions.
According to Arabiya Net, NCB Capital, in its capacity as lead manager, said Goldman Sachs Saudi Arabia, HSBC Saudi Arabia, Morgan Stanley Saudi Arabia, NCB Capital and Citi Saudi Arabia Group and Credit Suisse Saudi Arabia as managers of the institutional subscription record that the final offer price is equivalent to a discount rate of 9.1% compared to the closing price of the share on Thursday, December 9, 2021.
The entire shares allocated to individuals were covered during the subscription period, which represent 12 million shares or 10% of the total shares, with the participation of more than 231,000 individual subscribers.
The entire offered shares will be allocated to individuals, with a minimum of 10 shares for each individual subscriber included in the subscription application, while the remaining shares will be allocated on a pro-rata basis based on the volume of the application. Each subscriber to the total remaining shares to be subscribed, with an allocation ratio of about 84.11%.
The remaining 108 million shares of the Offering will be allocated to institutional investors in consultation with the institutional bookrunners.
