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Samba Capital announces Electrical Industries IPO allotment mechanism

Samba Capital announces Electrical Industries IPO allotment mechanism
Samba Capital, financial advisor, lead manager and underwriter of the initial public offering of Electrical Industries Co., announced completing the allotment process according to the final IPO data.
Samba added that the coverage ratio reached 522.7% of the 6,750,000 offered shares allotted to retail investors, which represents 50% of the 13,500,000 offered shares.
Accordingly, Samba said 3 shares at least are allotted to each subscriber according to the allotment table.

No. of Subscribers

No. of Allotted Shares

1

3

2

7

3

11

4

15

5

19

6

23

7

28

8

32

9

36

10

40

11

44

12

48

13

52

14

56

15

60

16

65

17

68

18

72

19

76

20

80

21

84

22

88

23

92

24

96

25

99

26

103

27

107

28

111

29

116

30

120

31

124

32

128

33

131

34

136

35

140

36

145

37

149

38

153

40

161

41

165

42

168

According to the subscription prospectus, 6,750,000 shares, representing 50% of the total offered shares, were allotted to retail investors. Meanwhile, 6,075,000 shares, representing 45% of the total offered shares, were allocated to public investment funds. The remaining 5% went for the other subscribed institutions.
The financial advisor indicated that the number of subscribers reached 1,740,267, injecting SAR 1,905,136,200, which reflects the overwhelming response seen by the subscription. Samba also said that the refunds will be paid on Monday, Nov. 24, 2014.