{"id":86789,"date":"2024-06-03T00:00:00","date_gmt":"2024-06-03T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2024\/06\/03\/talcos-retail-tranche-was-17-4x-covered\/"},"modified":"2024-06-03T00:00:00","modified_gmt":"2024-06-03T00:00:00","slug":"talcos-retail-tranche-was-17-4x-covered","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2024\/06\/03\/talcos-retail-tranche-was-17-4x-covered\/","title":{"rendered":"Talco\u2019s retail tranche was 17.4x covered"},"content":{"rendered":"

The retail component of Altaiseer Group Talco Industrial Company\u2019s (Talco) <\/strong>IPO on Tadawul\u2019s main market was 17.4x oversubscribed<\/strong>, financial advisor Alinma Investment said in a statement<\/a> yesterday. The company offered 1.2 mn shares (equivalent to 10% of the total offering) to retail investors. Talco had priced its IPO at SAR 43 per share after the institutional tranche<\/a> of the sale closed last month 68.5x oversubscribed.<\/p>\n

The specifics:<\/strong> Each subscriber received one share, with the remaining shares allocated on a pro-rata basis based on investor demand, resulting in an average allocation factor of 2.5%, the statement read. Remaining shares were distributed individually, starting with the investors who had the highest demand, it added. <\/p>\n

BACKGROUND- <\/strong>Talco is taking a 30%<\/a> stake (12 mn shares) to the main market in a secondary share sale, allocating 90% of its stake to institutional investors, while retail investors have the remaining 10%. Talco\u2019s nine major shareholders reduced their combined stake to 65.09% from 92.99%.<\/p>\n

ADVISORS- Alinma Investment<\/strong> is quarterbacking the transaction as financial advisor, lead manager, bookrunner and underwriter, while Stat Law Firm<\/strong> is acting as counsel. PwC<\/strong> is Talco\u2019s financial due diligence advisor. Front & Sullivan <\/strong>is serving as market consultant, while KPMG <\/strong>is acting as the company\u2019s auditor. The receiving agents are Alinma Bank, Al Rajhi Bank, and Riyad Bank<\/strong>.<\/p>\n","protected":false},"excerpt":{"rendered":"

The offering brought in subscriptions worth SAR 900.1 mn<\/p>\n","protected":false},"author":1,"featured_media":86790,"comment_status":"","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2542],"tags":[29],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-86789","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ipo-watch","tag-ipo-watch","wpautop","entry"],"acf":{"mongo_id":"b961e66d-2ae9-4964-a049-2427041be584","order":"5","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/5\/1384.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Talco\u2019s retail tranche was 17.4x covered","related_issue":[86780],"teaser":"The offering brought in subscriptions worth SAR 900.1 mn","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/6\/.46a810cb-f808-48f5-8824-240bde1b4d6f.mp3"},"yoast_head":"\nTalco\u2019s retail tranche was 17.4x covered - 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