Saturday, Feb 09, 2013
BEIRUT (Zawya Dow Jones)--The retail portion of the initial public offering of shares in Saudi Arabia's National Medical Care Co. was more than 3.5 times oversubscribed as of Thursday, the Okaz newspaper reported Saturday, quoting the IPO's lead manager Riyad Capital.
National Medical, which operates hospitals and provides other medical services, is offering shares equivalent to 30.1% of its capital to institutional and retail investors. The IPO closes on Sunday.
Half of the new shares are reserved for retail investors, according to Riyad Capital, which is also the share sale's adviser and underwriter.
The newspaper report said that nearly 1.32 million individual investors had subscribed 646 million Saudi riyals ($172.2 million) in the IPO by the end of Thursday.
National Medical Care is offering the new shares at SAR27 apiece.
Newspaper website: http://www.okaz.com.sa/new/Issues/20130209/Con20130209571298.htm
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(END) Dow Jones Newswires
09-02-13 1114GMT
