Riyadh-Mubasher: The initial public offering (IPO) of Alandalus Property Co. was 237.76% subscribed until the close of the fifth day, said Riyad Capital, the issue's financial advisor, lead manager and underwriter.
The number of retail subscribers reached 633,100 until 21 December.
Meanwhile, the number of subscribed shares in the five-day period totalled 19.9 million, representing 237.76% oversubscription to the 8.4 million floated shares.
The company allocated 40% of offered shares for retail investors.
Alandalus earlier obtained the approval of the Capital Market Authority to float 21 million shares in an initial public offering from 17-23 December 2015.
