Al Alamiya IPO 103.5% subscribed by day 1

Riyad Capital, Lead Manager and Sole Underwriter for the Initial Public Offering (IPO) of Al Alamiya for Cooperative Insurance Company (under formation), has announced that the first day of subscriptions saw positive interest in its Initial Public Offering.
At the end of day 1of the subscription period, 21,513 applications have been received via the Receiving Banks (Riyad Bank, SABB and Saudi Fransi) accounting for 103.5% of the available shares. 
The subscription period began on Saturday 3rd October 2009 and will end on Friday 9th October 2009. Members of the Saudi public interested in subscribing for shares can contact one of the Receiving Banks which are: Riyad Bank, SABB, Saudi Fransi. 
Bank customers with the appropriate facilities may also be able to subscribe to the IPO through telephone and internet banking as well as ATMs.
Morgan Stanley is acting as Financial Advisor and Riyad Capital is acting as Lead Manager and Sole Underwriter in relation to the offering.
Copies of the Al Alamiya prospectus are available from the Al Alamiya Head Office in Jeddah, The Capital Markets Authority website, as well as in branches of the Receiving Banks.