Riyadh-Mubasher: The initial public offering (IPO) of Alandalus Property was 469.37% oversubscribed until the last day of the application process, said Riyad Capital, the issue's financial advisor, lead manager and underwriter.
The number of retail subscribers reached 1.1 million until 23 December.
Meanwhile, the number of subscribed shares in the seventh-day period totalled 39.4 million, or 469.37% 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 to float 21 million shares in an initial public offering from 17-23 December 2015.
