RIYAD from Saudi Arabia, August 1, 2021 / PRNewswire / – Saudi Fransi Capital, Financial Advisor, Senior Manager, Bookrunner and Underwriter for Tanmiah Food Company (“Tanmiah” or the “Company”) Initial Public Offering (“IPO”) has announced the completion of subscription period for the shares offered on Tuesday 12/17 / 1442H (corresponding to 07/27 / 2021G). The coverage ratio of shares offered by individual subscribers (the “Retail Tranche”) reached 1,170.48% and the total number of individual subscribers reached 69,598, injecting SAR 470 532 290 to subscribe for six hundred thousand (600,000) Ordinary Shares at the price of SAR 67 per share.
In accordance with the IPO Prospectus, six hundred thousand (600,000) Ordinary Shares were allocated to individual subscribers, representing 10% of the total shares offered for public subscription, while five million four hundred thousand (5,400,000) Shares Ordinary have been allocated to subscribing institutions, representing 90% of the total shares offered for subscription.
Saudi Fransi Capital has indicated that the receiving bank will endeavor to complete the procedures for restitution of excess subscriptions no later than 25/12 / 1442H (corresponding to 04/08 / 2021G), and that the listing of the Company’s shares at the Saudi Stock Exchange take place after completing all relevant requirements and procedures. The listing date will be announced on the Saudi Stock Exchange website.
The subscription prospectus has been published on the Capital Market Authority website www.cma.org.sa, the Tanmiah Food Company website www.tanmiah.com and the Saudi Fransi Capital website www.sfc.sa.
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SOURCE Tanmiah Food Company