Riyadh – Mubasher: Subscription in 900,000 shares for retail investors as part of Zahrat Al Waha for Trading’s initial public offering (IPO) is scheduled to commence Sunday on the Saudi Stock Exchange (Tadawul).

The financial institutions and investment funds segment has already completed its subscription phase in the IPO for Zahrat Al Waha’s 4.5 million shares, at SAR 51 per share.

The retail segment’s subscription, involving 20% of shares in the IPO, will last for eight days, ending Sunday, 20 August, a previous statement by Saudi Fransi Capital, the financial advisor and lead arranger for the IPO, showed.

Starting Sunday, receiving banks, namely the National Commercial Bank (NCB), Bank Saudi Fransi (BSF), Riyad Bank, and Samba Financial Group, will begin receiving orders from retail investors looking to participate in the IPO.

The first phase of Zahrat Al Waha’s IPO was 120% oversubscribed.

Based in Riyadh, Saudi Arabia, Zahrat Al Waha for Trading operates in the plastics field, manufacturing plastic profiles and plastic sheets.