Saudi Fransi Capital, the financial advisor and IPO of AlKhorayef for Water and Power Technology, has ended the public offering of the company's shares, with a coverage ratio of 1511.52% for individual subscription.
According to Arabia Net, the company stated in a statement that the number of individual subscribers amounted to 136,988 subscribers who pumped 816,220,800 riyals to subscribe to 750,000 shares at a price of 72 riyals per share.
Based on 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.
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 proportional basis based on the size of each subscriber's request to the total remaining shares required to subscribe.
