08 May 2011
RIYADH: AlBilad Investment Company, the financial adviser, IPO lead manager and lead underwriter of the IPO for Saudi Integrated Telecom Company (SITC), has revealed the results of the fifth day of the subscription for SITC's shares and its process, showing the company has received 92,700 requests for 424,600 subscribers on 35,700,000 shares worth SR357,000,000, with a coverage of 119 percent until 5 p.m. on Friday (May 6).
RIYADH: AlBilad Investment Company, the financial adviser, IPO lead manager and lead underwriter of the IPO for Saudi Integrated Telecom Company (SITC), has revealed the results of the fifth day of the subscription for SITC's shares and its process, showing the company has received 92,700 requests for 424,600 subscribers on 35,700,000 shares worth SR357,000,000, with a coverage of 119 percent until 5 p.m. on Friday (May 6).
It was noted that 98 percent of the subscriptions' requests were received through the banks' e-services.
The subscription period ends on Sunday (May 8).
AlBilad Investment Company praised the participating banks (AlBilad Bank, National Commercial Bank, Samba, Arab National Bank, Banque Saudi Fransi, Riyad Bank, Al-Rajhi Bank and SABB) for their help and support on the IPO process, and also for their positive cooperation and remarkable participation to ease the subscription process for all the subscribers.
© Arab News 2011
