Al-Ahly Capital, in its capacity as financial advisor, bookrunner, lead manager and underwriter for the initial public offering of East Integrated Pipeline Company, said that the total value of individual applications for the subscription It amounted to about 810.8 million riyals.
The company announced, today, Monday, the completion of the offering process for the individuals category and the allocation of a minimum of 3 shares to each individual subscriber included in the subscription application, while the remaining shares will be allocated on the basis of Proportional based on the size of each subscriber’s request to the total remaining shares required to be subscribed, with an allocation ratio of 0.0173% on a pro rata basis, bearing in mind that fractional shares have been aggregated and allocated in descending order starting from the higher requests, at the rate of one share for each application until their expiry.
According to the company's statement to the Saudi market (Tadawul), the company offered 6.3 million shares, representing 30% of the capital of (Al-Sharq Pipes), 90% of which were allocated to participating institutions and 10% to individuals. .
The subscription period for individual subscribers began on Monday, January 24, 2022 and ended on Tuesday, January 25, 2022, by subscribing to the entire 630 shares allocated to this tranche. One thousand shares at 10% of the total offered shares at a price of 80 riyals per share, through the receiving entities.
The number of individual subscribers reached about 209,452 investors, and the individual subscription was covered 16.1 times.
