Riyadh: Al Rajhi Capital in its capacity as the Financial Advisor, Lead Manager, Bookrunner and Underwriter of the public offering of Al Masane Al Kobra Mining Company (AMAK) has announced that that today, retail investors can start subscribing to (5,940,000) shares representing 30% of the Company total offer shares. The offer price has been set at (63) Saudi Riyals per share during the book building process. The retail subscription will continue for three (3) days until the end of Friday 08/08/1443H, corresponding to 11/03/2022G.
Al Rajhi Capital announced earlier the completion of the book building process with bids amounting to 91.8 billion Saudi Riyals and a coverage reaching 73.6 times the offered shares. (19,800,000) shares, representing 100% of total offer shares, were allocated to the participating parties. Each retail investor can subscribe to a minimum of ten (10) shares, Al Rajhi added.
On 22 December 2021G, the Capital Market Authority approved Al Masane Al Kobra Mining Company’s application for the offering of (19,800,000) shares, which represents 30% of its share capital of 660 million Saudi Riyals after the IPO.
For more information and review of the prospectus, please refer to the website of the Capital Market Authority (www.cma.org.sa), the website of Al Masane Al Kobra Mining Company "AMAK” ( www.amak.com.sa), and the website of Al Rajhi Capital, (www.alrajhi-capital.com).
Overview of AMAK
Al Masane Al Kobra Mining Company was established on 09/10/1428H, corresponding to 21 October 2007G. AMAK key operations include the Al Masane Copper Zinc Mine and Guyan Gold Mine. Al Masane Mine is located at Al Masane main camp and produces copper and zinc in concentrate and gold and silver in dore as byproducts. Guyan Mine is located at 12 kilometers away from Al Masane Mine and it produces gold in dore.
For more information, please visit the company's website at www.amak.com.sa
For more information, please visit the company's website at www.amak.com.sa
