The CEO of Al Rajhi Capital Co., Marcus Andrade, has announced the IPO subscription results for Buruj Insurance. Al Rajhi Capital is the Lead Manager for the IPO.
In the first four days, the value of subscriptions amounted to SAR 365.17 million with the number of subscribers reaching 127,936. The offer has been subscribed by 702 % of total offered shares, since the IPO launch date on Saturday 03 October 2009.
Andrade pointed out that the percentage of subscriptions via electronic channels was 90% of the total applications.
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