The CEO of Al Rajhi Capital Co., the Lead Manager of the Buruj Cooperative Insurance Co. IPO, Marcus Andrade, announced that the allocation of shares has been completed and approved by the Capital Market Authority (CMA). The total number of subscribers was 1,120,707 which contributed a total amount of SAR 605,198,000 and amounted to subscription coverage of 1163%.
Andrade was more than pleased with this transaction and extended his thanks all participants in making the Buruj Insurance IPO a success. He expressed his appreciation for the support given by the CMA.
The IPO was completed via several channels. Electronic channels represented 90% of the subscriptions. The following table summarizes the final allocation of shares pursuant to the number of subscribers per subscription:
|
Allocation Table | |
|
No. of subscribers in the Subscription Form |
No. of shares allocated |
|
1 |
4 |
|
2 |
9 |
|
3 |
13 |
|
4 |
18 |
|
5 |
24 |
|
6 |
28 |
|
7 |
33 |
|
8 |
38 |
|
9 |
42 |
|
10 |
47 |
|
11 |
52 |
|
12 |
56 |
|
13 |
61 |
|
14 |
65 |
|
15 |
71 |
|
16 |
76 |
|
17 |
80 |
|
18 |
85 |
|
19 |
90 |
|
20 |
95 |
|
21 |
100 |
|
22 |
105 |
|
23 |
109 |
|
24 |
114 |
|
25 |
119 |
|
26 |
124 |
|
27 |
129 |
|
28 |
133 |
|
29 |
138 |
|
30 |
143 |
|
31 |
148 |
|
32 |
153 |
|
33 |
158 |
|
34 |
162 |
|
35 |
168 |
|
41 |
197 |
|
42 |
201 |
