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Riyad Capital, in its capacity as lead manager of the International Water and Energy Works Company “ACWA Power”, announced the finalization of the offer process for the individual category and the allocation of a minimum of 6 shares to each individual subscriber included in the subscription request, while the remaining shares will be allocated in proportion to the size of the request of each subscriber to the total of the remaining shares to be subscribed, with an allocation rate of 0.02197% pro rata.
The company offered 81,199,299 shares, representing 11.1% of the capital, of which 90% were allocated to participants and 10% to individuals.
The subscription period for individual subscribers began on Wednesday September 29, 2021 AD, and ended on Friday October 1, 2021, with the subscription to all the shares allocated to this segment, i.e. 8,119,929 shares, at the rate of 10%, of the total number of shares offered at a price of 56 rials per share, through the recipients.
The individual subscriber segment recorded the participation of 1.35 million individuals, with a coverage rate of 1989.96%, and the total claims amounting to 9,048,682,160 rials.
The excess subscription to individual subscribers will be refunded no later than October 5, 2021.
It should be noted that the stocks offered by the institutions were hedged about 248 times, with a total of claims submitted worth around 1,127 billion riyals, and local investors pumped out 1,075 billion riyals with a volume of coverage of 236 times, while the coverage of Gulf investors amounted to 36 billion riyals with an 8 times coverage volume, while foreign investors pumped out 16 billion riyals, the coverage volume 4 times.
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