Fawaz Abdulaziz Alhokair & Company IPO collects over SR 2.4 billion

Published October 20th, 2006 - 10:52 GMT

Fawaz Abdulaziz Alhokair & Company today announced that its ten-day IPO collected over SR 2.4 billion.

The ten-day IPO which opened on 7th of October and closed on 16th of October received over 2.1 million subscriptions. 70 % of the amount has come through direct channels including ATMs, phone banking and internet banking. The excess funds will be returned on Saturday 21st October.

Fawaz Alhokair, Chairman, Fawaz Abdulaziz Alhokair & Company, said: “By showing their faith in Fawaz Abdulaziz Alhokair & Company, investors have exercised their vote of commitment to the progress of the Kingdom. We welcome our new stakeholders and would like to ensure them that Fawaz Abdulaziz Alhokair & Company will continue to outperform competition and offer world-class products.” 

Dr. Abdulmajeed Alhokair, Chief Executive Officer, Fawaz Abdulaziz Alhokair & Company said: “On behalf of the company I sincerely thank the Saudi investors for their strong support to the IPO and the CMA and our banking partners for their support as well. Investor response to the IPO is an indication of their trust in the Company, its future growth potential and market leadership status.” 

“We are thankful to the Capital Market Authority (CMA) of Saudi Arabia; to HSBC our financial advisor & lead manager and to Saudi British Bank (SABB) our sole underwriter. We also thank the 11 receiving banks for reaching out to Saudi investors across the vast Kingdom using innovative outreach programmes.”

SABB was the sole underwriter of the IPO and also a selling agent. The other banks that were involved in selling the issue were: Samba Financial Group, Al Rajhi Banking & Investment Corporation, National Commercial Bank, Arab National Bank, The Saudi Investment Bank, Riyad Bank, Banque Saudi Fransi, Bank Al Bilad, Bank Al Jazira and Saudi Hollandi Bank.

The final allocation of shares has been approved by the Capital Market Authority of Saudi Arabia as follows:

Number of Applicants Share Allocated
1 6
2 11
3 17
4 22
5 28
6 34
7 39
8 45
9 52
10 57
11 63
12 69
13 74
14 80
15 86
16 92
17 98
18 104
19 109
20 115
21 121
22 127
23 132
24 138
25 144
26 149
27 155
28 161
29 166
30 172
31 178
32 183
33 189
35 200
39 223
41 234
42 240


About Fawaz Abdulaziz Alhokair & Company

Fawaz Abdulaziz Alhokair & Company is one of the fastest growing and dynamic enterprises in the Kingdom of Saudi Arabia employing more than 2500 people. It has a reputation built on innovation and successful fashion retail franchising and trades over 42 brands through a network of 617 stores. In 2005/06 the Company had a turnover of SAR 1.293 billion, served more than 12 million customers and sold over 15 million items. The Company has built its success on forging alliances with the world’s most successful fashion retail brands including: Zara, Massimo Dutti, La Senza, Aldo, Nine West, Promod and Wallis. Its fresh approach to retailing is meeting the needs of a fast-growing and increasingly cosmopolitan Saudi population. The Company’s unique ability to spot trends and identify international brands that appeal most to Saudi consumers has resulted in the perfect meeting of demand and supply.


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