New Delhi, May 15, 2019: Arabian Centres Company (“Arabian Centres” or “the Company”) announces the successful completion of its Initial Public Offering (“IPO” or the “Offering”) of shares with the conclusion of the retail offering.
Following the completion of the institutional book building process, the one day retail offering took place on 9 May 2019. The retail offering saw 26,476 individual investors subscribe for 5,701,670 shares at the IPO price of SAR 26 per share, which represented 6.0% of the Offer Shares (as defined below).
The retail offering followed the completion of the institutional book building process. The book building process generated an order book of SAR 3.1 billion and resulted in a subscription of 126% of the Offer Shares (as defined below) as per the following breakdown:
Based on the results of the retail offering, the shares allocated to institutional investors will be scaled back to 89,298,330 shares excluding the Purchase Option (as defined below), representing 94.0% of the Offer Shares (as defined below). Final allocations and refunds (if any) will be processed on 14 May 2019.
Confirmation of Offer Details
The Company has engaged Samba Capital & Investment Management Company, Morgan Stanley Saudi Arabia, NCB Capital Company and Goldman Sachs Saudi Arabia to act as Joint Financial Advisors and Joint Bookrunners, and appointed Citigroup Saudi Arabia, Credit Suisse Saudi Arabia, EFG Hermes KSA, Emirates NBD Capital KSA and Natixis to act as Joint Bookrunners in connection with the Offering. In addition, Samba Capital & Investment Management Company has been appointed as Lead Coordinator and Lead Manager. Furthermore, Samba Financial Group and National Commercial Bank acted as receiving agents for the retail offering.
Corporate Comm India(CCI Newswire)
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