Saudi Fransi Capital, the financial advisor, the underwriting manager, the institutional subscription book manager, and the underwriter for the public offering of the Food Development Company announced the completion of the process of building the order book for the segment of institutions subscribing in the company’s shares successfully, and that the coverage rate reached 9534% of the total shares offered at a price of 67 riyals per share.
According to Arabiya Net, the participating parties have subscribed to all the offered shares, as 6 million ordinary shares have been allocated to them, which represents 100% of the total shares offered for subscription as a first stage. .
With the successful completion of the order book building process, as a second stage, 600,000 ordinary shares, representing 10% of the total shares offered for public subscription, will be allocated to individual subscribers as a minimum. maximum.
The Saudi Fransi Capital Company confirmed that it has completed, with the receiving entity, Banque Saudi Fransi, all preparations to receive the individual investors' subscription requests, which will be for a period of one day only, on the date of July 27, 2021.
The Saudi Food Development Company had set the price range for its public offering between 59 and 67 riyals per share, which makes the target value of the offering between 354 million and 402 million riyals.
Food Development is offering 6 million shares for subscription, representing 30% of the Saudi company's capital.
