Al Rajhi Capital is the Lead Manager for the IPO.
The IPO has resulted in SR595m of subscriptions with the number of subscribers reaching 1,102,504 . The offer has been subscribed by 1140%. The IPO was launched on Saturday 3 October.
Andrade expressed his appreciation to all those who had participated in making the IPO a success. In addition he said the IPO occurred with ease. This was underlined by the positive turnout of the subscribers as well as the fact that 90% of subscriptions were via Electronic Channels.
The last day of the Offer was Friday 9 October. The announcement of allocation and refunding will occur no later than Wednesday 14 October.
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1140% subscription coverage in Buruj Cooperative Insurance Co. IPO
- Saudi Arabia: Saturday, October 10 - 2009 at 15:59
- PRESS RELEASE
After the close of the subscription period, the CEO of Al Rajhi Capital Co., Marcus Andrade, has announced the initial IPO subscription results for the Buruj Insurance.
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Log in to request more information from Al Rajhi Financial Services Co.
Notes and media contacts
For more information, please contact:Ousamah T. Aldeghather
Head of Marketing & PR
Al Rajhi Capital
Tel: +966 (01) 211 94 28
Fax: +966 (01) 211 92 99
Website: www.alrajhi-capital.com
Posted by Rima Ali Al MashniSaturday, October 10 - 2009 at 15:59 UAE local time (GMT+4)
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