Sport Clubs Company IPO: Individuals’ Coverage Reaches 533.6%

Saudi Fransi Capital, acting as financial advisor, lead underwriter, and institutional bookrunner for the public offering of Sport Clubs Company, announced the successful completion of the subscription period for individual investors, with a coverage rate of 533.6%.

According to the company, the individual investor subscription period saw 259,687 investors subscribe at the final offer price of 7.5 Saudi riyals per share. The total demand from the individual investor tranche amounted to approximately 247.7 million riyals.

The company stated that a minimum of 10 shares were allocated to each individual investor. The remaining shares will be allocated proportionally based on the size of each investor’s demand compared to the total remaining subscribed shares, with an average allocation factor of 12.5%. Following the conclusion of the individual investor subscription period, the shares allocated to the participating categories will be reduced to 27,456,000 shares, representing 80% of the total number of shares offered.