Riyadh – Mubasher: Ataa Educational Company’s retail offering was oversubscribed by 426%, according to a recent statement by the financial advisor and lead manager HSBC Saudi Arabia.

A total number of 38,560 investors subscribed to 1.2 million shares worth SAR 148 million.

The company noted that surplus refunds will be returned back on 25 July.

The Saudi-based company will be listed on the Saudi Stock Exchange (Tadawul) when fulfilling all required paperwork and regulatory procedures.

In May, Ataa received the approval of the Capital Market Authority (CMA) for its IPO.