Participation in ELM IPO Covering at as high as 1311.6%

Individual’s category allocation of a minimum of 6 shares to each individual subscriber, taking part in the subscription application for offering process has been completed, Riyad Capital announced in its capacity as lead manager, financial advisor, institutional subscription book manager, and underwriter in ELM Company’s initial public offering.

The remaining shares were distributed pro-rata based on the volume of each subscriber’s request, compared to the total number of shares that needed to be subscribed to.

Note that fractional shares were gathered and awarded in descending order, starting with the highest requests and going down to the lowest requests, at a rate of one share per request until they were all gone.

The business issued 24,000,000 shares, accounting for 30% of the company’s capital, with 70% of the shares going to participating parties and 30% going to individuals.

Individual subscribers could subscribe to the full shares allotted to this segment, totaling 7,200,000 shares, representing 30% of the total offered shares, at a price of SR128 per share, through Recipients, from Thursday, February 3, 2022, until Sunday, February 6, 2022.

Details about each subscription:

• Total number of participants: 1,126,626 subscribers

• Individuals were offered 7,200,000 shares.

• Individual coverage is 1,311.57 percent to the offer price at SR128 per share.

• Individual requests total SR12.09 billion in value.

• A minimum of 6 shares is allocated to each individual.

• Allocating the remaining shares, at 0.50214% on a pro-rata basis

Individual subscribers shall be repaid for any remaining subscriptions by February 10, 2022.