Riyadh – Mubasher: Retail investors have submitted orders worth SAR 1.746 billion to purchase 1.29 million shares of Theeb Rent a Car Co at SAR 40 per share, the financial advisor Saudi Fransi Capital announced.
The retail offering has been oversubscribed by 3,385.37%, the lead manager, lead bookrunner, and underwriter added in a statement.
A total of 1.29 million shares, or 10% of the company’s share capital, was allocated for retail investors, while 11.61 million shares, or 90% of its share capital, was allocated for institutions.
Earlier, Theeb completed the book-building process for institutional investors and set the final offer price at SAR 40 per share, with a coverage ratio of 6,010% of the total offer shares.
