GIB Capital, in its capacity as the lead manager for the subscription of the Arab Company for Arab Technical Contracting, completed the offering process for the individuals category with a coverage of 1482% and allotted two shares as a minimum for each individual subscriber included in the application Subscription.
According to Arab Net, the company said in a statement that the remaining shares will be allocated on a pro-rata basis based on the volume of each subscriber's request to the total remaining shares required to be subscribed, at a rate of Allocation of 0.9% on a pro-rata basis.
And she indicated that the fractional shares were accumulated and allocated in descending order, starting with the highest requests, at the rate of one share for each request, until their expiry.
The company offered 15 million shares, representing 30% of the company's capital, 90% of which were allocated to the participating parties and 10% to individuals.
The subscription period for individual subscribers began on Tuesday, October 26, 2021, and ended on Thursday, October 28, 2021 by subscribing to all 1.55 shares allotted to this tranche. One million shares at 10% of the total offered shares at a price of 100 Saudi riyals per share, through the receiving entities.
The number of individual participants in the subscription amounted to 655,179 individuals, with a total value of requests amounting to about 2.22 billion riyals, and the coverage rate of individuals reached 1482%.
and indicated that the surplus subscription to individual subscribers will be refunded no later than November 4, 2021.
