|25 July, 2019

Saudi Ataa Educational assigns 10 shares per subscriber in IPO

The remaining shares will be allocated pro-rata

Image for illustrative purposes. An investor monitors a screen displaying stock information at the Saudi Stock Exchange (Tadawul) in Riyadh, Saudi Arabia January 18, 2016.

Image for illustrative purposes. An investor monitors a screen displaying stock information at the Saudi Stock Exchange (Tadawul) in Riyadh, Saudi Arabia January 18, 2016.

REUTERS/Faisal Al Nasser

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.

Source: Mubasher

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