Successful Completion of the Offering to Individual Investors for Power and Utility Company for Jubail and Yanbu’s IPO
HSBC Saudi Arabia and Riyad Capital in their capacity as Financial Advisors, Book-runners, and Underwriters. In addition to HSBC Saudi Arabia in its capacity as the Lead Manager on the initial public offering of Power and Utility Company for Jubail and Yanbu (“Marafiq” or the “Company”) announces the successful completion of the Offering to Individual Investors. Each Individual subscriber will receive a minimum of ten (10) shares, while the remaining shares will be allocated on a pro-rata basis based on demand size to the remaining demand with an allocation factor of 4.91%. Fraction shares were collated and allocated one share per application starting from the highest order in descending order. The company offered 73,094,500 shares, representing 29.24% of the company’s capital, which was allocated 70% to Institutional Investors and 30% to Individual Investors.
The subscription period for Individual Investors Tranche, comprising (21,928,350) shares representing 30% of the total offering at a final Offer Price of SAR 46 per share, commenced on 26 October 2022 and ended on 30 October 2022.
Details of Individual Investor tranche:
- Number of Retail Subscribers: 1,591,012 subscribers.
- Number of shares offered to retail subscribers: 21,928,350 shares.
- Final Offer Price: SAR 46.
- Retail tranche coverage: 632%.
- Total amount of retail subscriptions: SAR 6,370,686,740.
- Minimum allocation to retail investors: ten (10) shares.
- Average allocation factor of remaining retail shares: 4.91%.
Date: 6 November 2022