Riyadh – Ataa Educational Company allocated a minimum of ten shares per subscriber in its initial public offering (IPO), according to a recent statement by the financial advisor and lead manager HSBC Saudi Arabia.
The group added that the remaining shares will be allocated pro-rata.
On Wednesday, HSBC Saudi Arabia announced that Ataa Educational Company’s retail offering was oversubscribed by 426%.
A total number of 38,560 investors subscribed to 1.2 million shares worth SAR 148 million.
The company noted that surplus refunds will be returned back on Thursday, 25 July.
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