Riyadh-Mubasher: Al Andalus Property will float 8.4 million shares at SAR 18 each for retail investors on Thursday.
The issue will run until 23 December.
The stock price was set according to the book-building process which was 1092% covered.
The developer allotted 40% of the total offered shares to retail investors, said Rashed Sharif, manager of investment banking at Riyad Capital, commending the book-building process which witnessed an overwhelming response from investment funds and financial institutions.
He added that the receiving entities – Riyad Bank, National Commercial Bank (NCB), Al-Rajhi Bank, Samba Financial Group, Saudi British Bank and Banque Saudi Fransi – will start receiving the applications as of tomorrow.
