SR16 share price announced for Amlak International’s IPO

SR16 share price announced for Amlak International’s IPO
SR16 share price announced for Amlak International’s IPO

We show you our most important and recent visitors news details SR16 share price announced for Amlak International’s IPO in the following article

Hind Al Soulia - Riyadh - RIYADH — NCB Capital, financial advisor, lead manager, bookrunner and underwriter for Amlak International’s IPO, announced the successful completion of the book building process for institutions and investment funds subscribing to the company’s shares, with the coverage ratio reaching 5x. The shares will be offered at a price of SR16 per share.

Public and private funds and DPMs amounted to 43.4% of the coverage, while the authorized persons, Saudi listed companies, insurance companies, private companies, endowments and QFIs, reached 56.6% of the coverage.

NCB Capital added that it has completed, with the receiving agents, all the necessary preparations to ensure the success of the IPO, which will start on Thursday (02/07/2020) and will be completed by the end of Sunday (05/07/2020).

NCB Capital added that all offered shares (27,180,000) would be allocated to the participating institutions and investment funds, representing 100% of the total shares offered.

In the event that there is sufficient demand from individual subscribers, the IPO’s lead manager, with the approval of the CMA, has the right to reduce the number of allocated shares to the participating entities to 24,462,000 shares, representing 90% of the total shares offered, and offer a maximum of 2,718,000 shares, representing 10% of the total shares offered, to individual subscribers.

It has been agreed with the receiving agents (Saudi Investment Bank, National Commercial Bank, Al Rajhi Bank and Bank Al Jazira) to provide all the information and the platforms needed by investors within the receiving agents’ branches and electronic channels to receive subscription requests, including their websites, ATMs and telephone banking services.

Amlak International is one of the leading specialized real estate financing companies in the Kingdom, with a track record of innovation and development of Shariah-compliant real estate financing solutions, serving both corporates and individuals, with a wide range of products and services including financing of ready properties, off-plan properties from approved developers, land purchases and construction.

Amlak International also supports the Ministry of Housing and the Real Estate Development Fund’s programs to expand the home ownership base in the Kingdom and accelerate the pace of obtaining the necessary financing. — SG

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