Riyadh-Mubasher: The initial public offering (IPO) of Alandalus Property was 89.58% subscribed till the close of the third day, said Riyad Capital, the issue's financial advisor, lead manager and underwriter.
The number of retail subscribers reached 252,873 on the third day.
Meanwhile, the number of subscribed shares in the three-day period totaled 7,524,540, or 89.58% of the 8.4 million floated shares.
The company allocated 40% of offered shares for retail subscription.
Alandalus earlier obtained the approval of the Capital Market Authority on floating 21 million shares in an initial public offering from 17-23 December 2015.
