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saudi corporate giant tadawul’s IPO oversubscribed 121 times with $122 billion offers

Individual investor subscription was started on Nov. 30 and it will end on Dec. 2.

RIYADH: The institutional side of Saudi Tadawul Group Holding Company’s initial public offering was 121 times oversubscribed generating an order book of SR458 billion ($122 billion).

The final offer price was set at the top of the range, at SR105 per share, on Sunday

The market capitalization of the exchange stands at SR 12.6 billion as on the listing date, a statement issued by Tadawul said.

Individual investor subscription was launched on Nov. 30 and it will end on Dec. 2. Oversubscription of the group’s IPO shows enormous potential of investment in Saudi corporate giants.

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