Arabian Mills gives 5 shares per subscriber

Dubai: Arabian Mills’ IPO announces the completion of the retail subscription period. Each individual subscriber was guaranteed a minimum allocation of five shares. HSBC Saudi Arabia is the acting financial advisor, global coordinator, bookrunner, underwriter, and lead manager for Arabian Mills.

The remaining shares will be allocated on a pro-rata basis, based on demand, with an average allocation factor of 1.7102 per cent.

HSBC Saudi Arabia explained that the distribution of leftover shares followed a specific methodology: Investors received additional shares in order of demand until all shares were allocated, according to a report by Saudi financial news portal Argaam.com.The retail offering lasted two days and concluded on September 19, 2024.