Riyadh-Mubasher: Saudi Fransi Capital, the financial advisor and lead manager for the initial public offering (IPO) of L’azurde, on Thursday said that the Saudi Arabian gold and jewellery maker’s IPO was oversubscribed by 293% by the end of the eighth day.
A total of 385,400 retail subscribers bought shares worth SAR 419.7 million through 67,900 subscription requests.
According to the company’s prospectus, final share allocation will be made no later than 19 June, while the surplus will be returned the next day.
Retail investors’ subscription period in L’azurde’s IPO began on June 5 and ended on 13 June.
A total of 3.87 million shares, or 30% of a total of 12.9 million shares, were offered to investors.
The Saudi jeweller is owned by a number of private companies including Investcorp, Eastgate Capital Group, The National Investor (TNI) and Al-Othaim family.
