Saudi Fransi Capital, the Financial Advisor, Lead Manager, Bookrunner and Underwriter for the Initial Public Offering (“IPO”) of Tanmiah Food Company, announces that it has successfully completed the book building process for institutional subscription to the Company’s shares, and that the coverage ratio reached 9,534%. The price of the offered shares has been set at SAR 67 per share.
Saudi Fransi Capital advised that the participating institutions have subscribed to all of the offered shares, with six million (6,000,000) Ordinary Shares allocated, representing 100% of the total shares offered for subscription during the Institutional Tranche.
With the successful completion of the book building process, as a second stage, a maximum of six hundred thousand (600,000) Ordinary Shares, representing 10% of the total shares offered for public subscription, will be allocated to individual subscribers.
Saudi Fransi Capital confirmed that it has completed all preparations with the receiving bank, Banque Saudi Fransi, to receive individual investors’ subscription requests, which will be for a period of one day only, on July 27th.
Follow Arabian Post
Select Arabian Post as your preferred source on Google and MSN News for trusted business news and Arab politics and updates.
