{"id":90009,"date":"2024-09-29T00:00:00","date_gmt":"2024-09-29T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2024\/09\/29\/arabian-mills-retail-subscription-was-9-2x-oversubscribed\/"},"modified":"2024-09-29T00:00:00","modified_gmt":"2024-09-29T00:00:00","slug":"arabian-mills-retail-subscription-was-9-2x-oversubscribed","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2024\/09\/29\/arabian-mills-retail-subscription-was-9-2x-oversubscribed\/","title":{"rendered":"Arabian Mills retail subscription was 9.2x oversubscribed"},"content":{"rendered":"

The retail component of <\/strong>Arabian Mills\u2019 IPO on Tadawul\u2019s main market was<\/strong> 9.2x oversubscribed<\/strong>, the company said in a press release (pdf)<\/a>. Some 264k individual investors logged orders worth SAR 930.6 mn for the 1.5 mn shares allotted for the tranche that represents 10% of the total offering. The subscription period for retail investors ran from Wednesday-Thursday, 18-19 September and Arabian Mills finalized the allotment of shares for the offering last. <\/p>\n

Retail investors received a minimum allocation of five shares apiece<\/strong>, while the remaining shares were distributed pro-rata based on demand at an average allocation factor of 1.7%. <\/p>\n

REMEMBER-<\/strong> Arabian Mills\u2019 institutional offering sold out within hours<\/a> of opening earlier this month and closed 132x oversubscribed<\/a>, with bookbuilding raking in a total of SAR 134.1 bn in orders from local and international investors. The company is offering a 30% stake<\/a> on Tadawul\u2019s main market in a secondary share sale, with the IPO priced at SAR 66<\/a> per share. <\/p>\n

Market cap + proceeds:<\/strong> The pricing gives the company a market cap of SAR 3.4 bn at listing, generating c. USD 1 bn in proceeds. Proceeds from the offering will be distributed among selling shareholders in proportion to the number of shares each sells, after deducting estimated offering expenses of SAR 33 mn which will be borne by the selling shareholders.<\/p>\n

ADVISORS-<\/strong> Our friends at HSBC Saudi Arabia are acting as the sole financial advisor, global coordinator, bookrunner, underwriter, and lead manager on the transaction, while Baker McKenzie is counsel, PwC is financial due diligence advisor, EY is auditor, and Euromonitor International is market consultant. Meanwhile, Alrajhi Bank, Saudi Awwal Bank, and Banque Saudi Fransi are the receiving agents.<\/p>\n","protected":false},"excerpt":{"rendered":"

Individual investors received a minimum allocation of five shares each<\/p>\n","protected":false},"author":1,"featured_media":90010,"comment_status":"","ping_status":"open","sticky":false,"template":"","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":[2419,10,29,244],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-90009","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ipo-watch","tag-capital-markets","tag-enterpriseam-ksa","tag-ipo-watch","tag-saudi-tadawul-group","wpautop","entry"],"acf":{"mongo_id":"3ba3abf8-4e31-4401-825c-4439aad04429","order":"5","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/8\/1995.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Arabian Mills retail subscription was 9.2x oversubscribed, with share allotments finalized on Thursday","related_issue":[90000],"teaser":"Individual investors received a minimum allocation of five shares each","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/9\/.26b47244-5600-4015-ab99-d14d9a5c7e77.mp3"},"yoast_head":"\nArabian Mills retail subscription was 9.2x oversubscribed - 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