The number of individual participants in the IPO of the Grand Factories Mining Company (AMAC) reached more than 1.374 million individuals, with the total value of their applications reaching about 4 billion riyals, to be covered Individuals subscribed about 10.6 times.
According to Arabiya Net, Al-Rajhi Capital, in its capacity as the financial advisor, bookrunner, lead manager and underwriter for the initial public offering of the Grand Factories Mining Company (AMAC), announced the completion of The process of successfully offering the individual segment and allocating a minimum of 4 shares to each individual subscriber included in the subscription application.
The company added 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, with an allocation ratio of 0.766 % on a pro-rata basis, bearing in mind that fractional shares have been accumulated and allocated in a descending manner, starting with the highest requests, at the rate of one share for each request until their expiration date.
The company offered 19.8 million shares, representing 30% of the company's capital after the increase, 70% of which were allocated to participating institutions and 30% to individuals.
The subscription period for individual subscribers began on Wednesday, March 9, 2022 and ended on Friday, March 11, when they subscribed to the entire 5.94 million shares allocated to this segment, at a rate of 30% of the total shares offered at a price of 63 riyals per share, through the receiving authorities.
