AMAK IPO book building closes successfully with 73.6 times institutional coverage and the final offer price is set at 63 Saudi Riyals

Al Rajhi Capital in its capacity as the Financial Advisor, Lead Manager, Bookrunner and Underwriter of the public offering of Al Masane Al Kobra Mining Company (AMAK) announced the completion of the book building process for the participating parties. The final offer price is set at 63 Saudi Riyals per share, with a coverage reaching 73.6 times of the offered shares.  The value of the submitted bids reached 91.8 billion Saudi Riyals and (19,800,000) shares, representing 100% of total offer shares, were allocated to participating parties.

Al Rajhi Capital added that the retail subscription for 5,940,000 shares representing 30% of the offer shares will commence on Wednesday 06/08/1443H corresponding to 09/03/2022G. The subscription will run for three (3) days until the end of Friday 08/08/1443H corresponding to 11/03/2022G. The receiving agents accepting retail subscriptions are Al Rajhi Bank, Saudi National Bank and Riyad Bank.