Marketing Home Group’s (MHG) retail offering was 200.2% covered, booking orders of SAR 163.4 mn, the financial advisor Alimna Capital said in a Tadawul disclosure yesterday. The clawback to 20% of the total offering kicked off on 19 August and concluded the following day after receiving interest from about 77.4k retail subscribers in 960k shares. Each retail subscriber will receive a minimum of ten shares, while the remaining shares will be distributed on a pro-rata basis at an average rate of 16.17%.

REFRESHER- The company is taking a 30% stake — good for 4.8 mn shares — to Tadawul’s main market via a secondary offering, following receiving the Capital Market Authority approval in March. MHG priced its shares at SAR 85 a pop — the top of the marketed range — after its institutional offering was nearly 10x oversubscribed. Selling shareholders are set to rake in SAR 408 mn in total proceeds from the secondary offering, giving the company an implied market cap of SAR 1.36 bn at listing.

ADVISORS- Alinma Capital is quarterbacking the transaction as the financial advisor, lead manager, bookrunner and underwriter, with Stat Law Firm providing counsel. PwC Public Accountants is acting as the financial due diligence advisor, while Euromonitor International is serving as market consultant.

Receiving agents include our friends at EFG Hermes KSA, Alrajhi Capital, SNB Capital, Saudi Fransi Capital, Riyad Capital, AlBilad Investment, AlJazira Capital, Derayah Financial, ANB Capital, Yaqeen Capital, and Al Khabeer Capital, among others.

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