Individual Subscription Coverage for Avalon Pharma Reaches 54.27%

Aldukheil Financial Group “Aldukheil,” serving as the Financial Advisor and Bookrunner for the Initial Public Offering of Middle East Pharmaceutical Industries company “Avalon Pharma” on the main market, has announced the successful completion of the offering process for the individual investor segment. The total number of individual subscribers (including main and affiliate subscribers) reached 807,461, achieving a subscription coverage percentage of 54.27 percent.

The total number of shares subscribed by individual subscribers amounted to 32.56 million shares, with a total value of SAR 2.67 billion, at an offering price of SAR 82 per share.

The company clarified that the number of shares offered to the individual investor segment is 600,000 shares, representing 10% of the total shares offered for public subscription. The number of subscription applications submitted by main subscribers reached 284,739 applications.

Each main subscriber was allocated a minimum of two (2) shares, with the remaining shares allocated on a proportional basis, representing an allocation ratio of approximately 0.095% of the total number of remaining shares based on each main subscriber’s request.

Aldukheil Financial Group will complete the necessary procedures with the Saudi Tadawul Company “Saudi Tadawul” and subsequently determine the listing date for the Company’s shares on the Main Market.

It is worth noting that the offering period for individual investors commenced on Tuesday, January 30th, and concluded on Thursday, February 1st.