Riyadh –  The initial public offering (IPO) of Saudi Home Loans Company (SHL) has registered 756,425 subscribers investing SAR 1.58 billion during the retail offering process.

Saudi Home Loans offered 3 million shares in the retail tranche, which was oversubscribed by 2,644.01%, according to a bourse disclosure on Sunday.

Riyad Capital, the lead manager, financial advisor, and bookrunner for the IPO, noted that the company allocated a minimum of three shares for each retail subscriber.

The remaining shares will be earmarked on a pro-rata basis with an average allocation factor of 0.94836%.

Riyad Capital indicated that 10% of the total IPO volume had been offered for retail subscription during 27-29 March.

Last month, Saudi Home Loans announced the final IPO price at SAR 20 per share to list and trade its ordinary shares on the Main Market of the Saudi Exchange (Tadawul).

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