NCB Capital, financial advisor, lead manager, bookrunner and underwriter for Amlak International’s IPO, announced that the retail subscription period for 2,718,000 shares offered for IPO at a price of SR16 ($3.8) per share will start today (July 2).
The subscription period will last for four days, including the last day for closing the subscription, which is July 5.
The receiving agents (Saudi Investment Bank, National Commercial Bank, Al Rajhi Bank and Bank Al Jazira) will provide the platforms needed by investors within the receiving agents’ branches and electronic channels to receive subscription requests.
The receiving agents’ platforms will include their websites, ATMs and telephone banking services, which will allow individual subscribers to participate in the IPO, and take advantage of the investment opportunity provided by the listing of Amlak International on the Saudi Stock Exchange (Tadawul).
Individual investors can subscribe to a minimum of 10 shares, and a maximum of one million shares, with the shares allocated on July 12. The refund of surplus amounts, if any, will take place on July 14.
The offering to individual investors comes after the successful completion of the institutional tranche. The total offered shares, which represent 30% of the company’s share capital, were offered to institutional investors during a book building process, with institutional coverage reaching 500% of the total offered shares.
Abdullah Al-Sudairy, CEO of Amlak International, said: “The company is entering a new and important stage in its growth journey, having set the standard in the real estate financing sector. With promising long-term fundamentals in place for our industry, Amlak intends to continue to expand the scope of its customer base across both the individuals and corporate portfolio.
“Meanwhile, we will continue to build on the opportunities afforded by our collaboration with the Real Estate Development Fund, the Saudi Real Estate Refinance Company, and the Ministry of Housing, as we work to promote home ownership in the Kingdom and accelerate the pace of obtaining the necessary financing.” – TradeArabia News Service
Send us your company’s news today and they could be featured on ABC’s Community News tommorow.
