Riyadh – Mubasher: Riyad Capital announced the completion of the retail offering process of Elm Company's initial public offering (IPO) at a value of SAR 12.09 billion, according to a recent bourse filing.
The final IPO price had been set at SAR 128 per share as announced last month.
Elm allocated a minimum of six shares for each individual subscriber, while the remaining shares will be earmarked on a pro-rata basis with an average allocation factor of 0.50214%.
Riyad Capital noted that 7.2 million shares, representing 30% of the total IPO volume, were offered for retail subscription during 3-6 February.
Elm intends to list 24 million shares on the Main Market of the Saudi Exchange (Tadawul).
