Riyadh – Mubasher: Middle East Healthcare Co. (MEAHCO) stock will start trading tomorrow on Saudi Tadawul, under the retail sector with symbol (4009), with 10% price limits, the Capital Market Authority said on Monday.
Earlier this month, Samba Capital, the financial advisor, lead manager and underwriter, said the company allotted a minimum of 10 shares per subscriber in its initial public offering.
The remaining shares will be allotted pro rata based on the number of shares applied for by each subscriber.
The IPO was 274.2% covered by retail investors till the end of the subscription period. A total of 405,960 subscribers purchased 22.7 million shares at a total value of SAR 1.45 billion ($0.39 billion).
The IPO coverage by investment funds and institutions reached 593.7% as they purchased 19.32 million shares, representing 70% of the total offered shares.
