Riyadh-Mubasher: Alandalus Property Co. has allotted seven shares for each retail subscriber and 15 shares for each two subscribers in one application, said Riyad Capital, the financial advisor, lead manager and underwriter of the developer’s initial public offering.
The public offering was nearly 464% covered by retail investors as more than 1,090,000 investors requested shares worth over SAR 702 million.
The real estate developer had allocated 8.4 million shares or 8.4% of its total offering to retail subscribers, and 12.6 million shares or 60% to institutions.
