Covering the subscription of individuals in the Tadawul group by 442.5% .. and assigning 10 shares to the individual

The coverage percentage of individual subscriptions in the Saudi Tadawul Group offer reached 442.5%.

Today, Monday, NCB Capital announced how lead manager, financial advisor, institutional bookrunner, international coordinator and underwriter, JPMorgan Saudi Arabia and Citigroup Saudi Arabia as financial advisors, bookrunners, international coordinators and underwriters for the potential initial public offering of Tadawul Holding of the Saudi Arabia Group At the end of the offer process for the single category and to the assignment of a minimum of 10 shares to each individual subscriber who is the subject of the subscription request, while the remaining shares will be assigned pro-rata in based on the size of the share capital of each subscriber required for the remaining total shares to be subscribed, with an assignment rate of 11.5206% on a pro-rata basis.

The number of individual participants in the offer was 598,327 individuals and the total value of the individual requests reached 5.02 billion riyals. Subscriptions exceeding single subscribers will be refunded no later than 8 December 2021.

The individual subscription phase of the Saudi Tadawul Group ended last Thursday, with the assignment of 10.80 million shares, equal to 30% of the total shares offered in public subscription to individual subscribers.

The individual subscription period began on Tuesday 30 November 2021 and for a period of 3 days ended on Thursday 2 December 2021.

On Monday, Saudi Tadawul Group’s bid managers announced the successful completion of the order book construction process for the company’s share categories and the final bid price set at 105 Saudi riyals per share, with a coverage rate of 121 times the total number of shares offered.

The Saudi group Tadawul had set an indicative price range for the initial public offering between 95 and 105 riyals per share.

Participation in the order book building was limited to the categories authorized to participate in the order book process building according to the instructions in book building and allotment of shares in first subscription issued by the Board of the Capital Market Authority.

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