Al Rajhi Capital: Completion of AMAK’s IPO, Allocation of 4 Shares Minimum to Each Individual

Al Rajhi Capital in its capacity as the Financial Advisor, Bookrunner, Lead Manager, and Underwriter on the initial public offering (the “Offering”) of Al Masane Al Kobra Mining (“AMAK” or the “Company”) announced on Monday the successful completion of the Offering to Individual Investors.

It added that each Individual subscriber included in the subscription application will be allocated a minimum of four (4) shares, while the remaining shares will be allocated on a pro-rata basis based on each subscriber’s demand size to the remaining demand with an allocation factor of 0.766% on a proportional basis. Fractional shares were collated and allocated one share per application starting from the highest order in descending order.

The company offered 19,800,000 shares, representing 30% of the Company’s share capital following the capital increase, which was allocated 70% to Institutional Investors and 30% to Individual Investors.

The subscription period for individual investors tranche, comprising 5,940,000 shares representing 30% of the total offering at a final offer price of SR (63) per share, commenced on 9 March 2022 and ended on 11 March 2022.