Coverage of the individual subscription to the “Marafiq” offer 632%

HSBC Saudi Arabia and Riyad Capital announced today, Thursday, in a declaration, in acting as financial advisors, bookrunners and underwriters, as well as HSBC Saudi Arabia as lead manager for the initial public offering of the Electricity and Water Utilities Company to Jubail and Yanbu. Marafiq “, announced the completion of the offer process for the individual tranche and the assignment of a minimum of 10 shares to each individual subscriber included in the subscription request.

According to the press release, the remaining shares will be assigned proportionately in based on the volume of each subscriber’s request to the total of the remaining shares to be subscribed, with an assignment rate of 4.91% on a proportional basis.

The fractions of shares were aggregated and assigned in descending order, starting from the highest requests, in reason for an action for each request until its expiration.

Interestingly, “Marafiq” offered approximately 73.09 million shares, equal to 29.24% of the company’s capital, of which 70% was allocated to the segment of participating institutions and 30% to the segment of individuals.

The number of individual participants was 1,591,012 subscribers, with a coverage rate of 632%, and the total value of individual requests was approximately 6.37 billion riyals.

The subscription period for individual subscribers began on October 26, 2022 and ended on October 30, 2022.

The individuals segment has subscribed the entire shares assigned to tale category, equal to approximately 21.93 million shares, equal to 30% of the total shares offered, at a price of 46 riyal per share, through the recipients.