Riyadh – Mubasher: Riyad Capital, the financial advisor, bookrunner and lead arranger for Al Yamamah Steel's initial public offering (IPO), said that the number of subscribed individuals has reached 229,400 subscribers by the end of 29 April, the third day of the IPO.
Total subscribed shares reached 5.53 million, representing 120.91% of total shares available for individuals, amounting to 4.57 million shares and representing 30% of the IPO's total number of shares, Riyad Capital said in a statement.
It added that the total number of shares in Al Yamamah Steel's IPO amount to 15.25 million shares, and represent 30% of the company's total capital.
Total subscriptions by individual investors reached SAR 199.07 million by the end of Friday. The IPO scheduled to conclude on 3 May.
