Riyadh – Mubasher: Riyadh Capital, the financial advisor, lead manager and underwriter, of the initial public offer (IPO) of Al Yamamah Steel Industries announced the results of the allotment process for individual subscribers.
The company said it allotted a minimum of 5 shares for each retail subscriber and 11 shares for each two subscribers.
Retail subscription reached 479% or SAR 788 million, while the total number of individual subscribers exceeded 800,000.
Shares allotted to individual investors in the IPO amounted 4.57 million shares, representing 30% of the IPO’s total shares, whereas institutional investors had 10.67 million shares or 70% to subscribe in.
