HSBC Saudi Arabia Announces the successful completion of Nayifat Finance Company’s Offering to Individual Investors

HSBC Saudi Arabia in its capacity as Lead Manager on the initial public offering (“IPO”) of Nayifat Finance Company (“Nayifat” or the “Company”) announces the successful completion of the Offering to Individual Investors. Each Individual subscriber will receive a minimum of (3) three 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 0.6188%. Fraction shares were collated and allocated one share per application starting from the highest order in descending order.

The company Offered 35,000,000 shares, representing 35% of the company’s capital, which was allocated 90% to Participating Parties and 10% to Individual Investors.

The subscription period for Individual Investors Tranche, comprising 3,500,000 shares representing 10% of the total offering at a final Offer Price of SAR 34, commenced on 7 November 2021 and ended on 8 November 2021.

Details of Individual Investor tranche:

- Number of Retail Subscribers 1,021,759

- Number of shares offered to retail subscribers 3,500,000

- Final Offer Price SAR 34

- Retail tranche coverage 20.95x

- Total amount of retail subscriptions c.SAR 2.5bn

- Minimum allocation to retail investors (3) three Shares

- Average allocation factor of remaining retail shares 0.6188%

Refunds to retail investors will be processed no later than November 15, 2021.