Riyadh – Mubasher: Riyad Capital, the financial advisor and lead arranger for Al Yamamah Steel Industries Co.’s initial public offering (IPO), said that the share subscription process has been successful.
Total coverage for the IPO reached 681% for all shares available, with the price per share reaching SAR 36.
The 15.245 million shares that were allocated to the institutions and funds tranche have been fully subscribed in the first stage of the IPO, a statement by Riyad Capital revealed.
