‎Saudi Tadawul Group’s retail IPO 442.5% oversubscribed, each subscriber gets 10 shares

‎Saudi Tadawul Group’s retail IPO 442.5% oversubscribed, each subscriber gets 10 shares

Saudi Tadawul Group Holding Co.'s retail offering was 442.53% oversubscribed, with total orders worth SAR 5.02 billion.

This was announced by SNB Capital, the lead manager, financial advisor, book-runner, global coordinator and underwriter, as well as JP Morgan Saudi Arabia, and Citigroup Saudi Arabia, the financial advisors, book-runners, global coordinators and underwriters on the initial public offering.

Individual subscribers will each receive a minimum of 10 shares. The remaining shares will be allocated on a pro-rata basis with an average allocation factor of 11.5206%.

The fractional shares were collated and allocated on a pro rata basis starting from the highest in a descending order.