RIYADH: Saudi Tadawul Group Holding Co. increased the shares allocated to individual subscribers in its initial public offering (IPO) to 10.8 million, representing 30 percent of its total offered shares of 36 million, instead of 3.6 million that represented 10 percent of the total offered shares.
The revised plan was unveiled on Tuesday in the company’s supplementary prospectus. Earlier, 3.6 million stocks were allocated that represented 10 percent of the total offered shares.
The subscription process for individuals will begin on Nov. 30 for three days.
The decision comes as part of the company’s efforts to ensure higher participation from individual subscribers in the public offering and provide access to investment opportunities.
“Our aim is to provide an adequate opportunity to all types of investors in the Saudi equity market to participate in the offering,” CEO Khalid Alhussan said.
“Individual investors have always been at the center of our strategic initiatives. We have always focused on providing investors with attractive and diversified investment opportunities, creating a balanced investment environment that supports the aspirations of individual investors, who make up a large trading segment on the Saudi Exchange,” he added.
No strategic investor for Tadawul Group IPO shares, says CEO .
The article from the source