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Amlak International Allocation of Shares, Excess Money Refund, and Trading to Begin on Monday 22/11/1441h (13 July 2020G)
Amlak International Allocation of Shares, Excess Money Refund, and Trading to Begin on Monday 22/11/1441h (13 July 2020G)

Riyadh, Saudi Arabia: 12 July 2020:  NCB Capital, the Financial Advisor, Lead Manager, Bookrunner and Underwriter of Amlak International’s IPO announced the completion of the allocation of shares for individual (retail) subscribers. NCB Capital said that after closing the subscription period for the retail tranche, all receiving banks completed the settlement and auditing process on Sunday evening, 14/11/1441H corresponding to 5 July 2020G, in accordance with the closing date of the subscription process. The coverage ratio for the retail offer was 26.90x of the total shares offered to individual subscribers, which amounted to 2,718,000 shares, representing 10% of the total shares offered. With a minimum of 10 shares allocated to each subscriber and each individual included in the subscription request, the remaining shares will be allocated on a pro rata basis at around (0.07%), depending on the size of each subscriber’s request against the total remaining shares subscribed to. Fractions of shares were also allocated on a pro rata basis. In line with Amlak International’s IPO Prospectus, 2,718,000 shares, representing 10% of the offer shares, were allocated to retail subscribers. 24,462,000 shares, representing 90% of the shares on offer were allocated to institutional investors, with the institutional offer having achieved a coverage ratio of 4.98x.

NCB Capital confirmed that the receiving agents will finalize the excess money refund procedures no later than Sunday (21/11/1441H) corresponding to 12 July 2020G.

The Saudi Stock Exchange (Tadawul) has announced that the listing and trading of Amlak International’s IPO shares will start as of Monday corresponding to 22/11/1441H (13 July 2020G). In a statement posted on Tadawul’s website, the Company will trade under the ticker symbol (1182).

Posted by : Saudi Arabia,Riyadh, Jeddah, Dammam, Meccca and Medina PR Network Editorial Team
Viewed 2064 times
PR Category : Banking & Investments
Posted on : Sunday, July 12, 2020  2:28:00 PM UAE local time (GMT+4)
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