Riyadh–Mubasher: The initial public offering of Middle East Healthcare Co. (MEAHCO) was 274.2% covered till the end of the subscription period, said Samba Capital, the financial advisor, lead manager, book-runner and sole underwriter.
A total of 405,960 subscribers purchased 22.7 million shares at a total value of SAR 1.45 billion ($0.39 billion), it added.
The IPO received an overwhelming response from investors, reflecting their strong confidence in the company’s investment value and growth potential.
The refunds will start on 16 March.
The healthcare services provider earlier obtained the Capital Market Authority’s (CMA) approval to float 27.61 million shares, representing 30% of issued capital.
