Riyadh – Mubasher: Samba Capital & Investment Management Company, the financial advisor, lead manager, book-runner and sole underwriter for the initial public offering (IPO) of Middle East Healthcare Company (MEAHCO) announced the successful completion of the institutional book building process.
MEAHCO is the owner and operator of the Saudi German Hospitals in the Kingdom of Saudi Arabia.
The book building process generated an order book of around SAR 10.5 billion and resulted in a subscription of 593.7% of the total offered shares as per the following breakdown: mutual Funds (168.4%), CMA authorized persons (79.6%), listed Saudi companies (240.9%) and government institutions and unlisted Saudi companies (104.8%).
Accordingly, 90% of the offered shares will be provisionally allocated to mutual funds; whereas the final allocation will occur after the completion of the retail offering, with the shares being offered at a price of SAR 64 per share, Samba said.
The retail offering will start on 3 March till 9 March. The maximum allocation to retail investors will be 8,283,600 shares which represents 30% of the offered shares in the IPO.
