AlBilad Investment reveals allocation of shares of Saudi Integrated Telecom
RIYADH - AlBilad Investment Company - the Financial Advisor, IPO Lead Manager and Lead Underwriter of the IPO of Saudi Integrated Telecom Company (SITC), has announced the successful closing of SITC’s IPO and revealed the allocation of shares for all the subscribers according to the IPO final results.
The total number of subscribers reached to 1,100,302 with a total value 880,740,500 million Saudi riyals, with a coverage percentage of 294%. The subscription through the banks’ electronic channels (ATM, Phone Banking and the Internet) represented 94% and the remaining 6 % came from the direct subscription to the branches of the participating banks.
The final allocation of shares and surplus refund to all subscribers will take place on Saturday, 11/6/1432 H (14/5/2011 G), after all the participating banks has completed their auditing and settlement processes of the IPO which was ended last Sunday 5/6/1432H (8/5/2011G.
Mr. Fahad Al Enezy, Acting CEO of AlBilad Investment Company noted that the allocation of shares has been completed and approved by the Capital Market Authority (CMA), according to the below Subscription Allocation Schedule.
Al Enezy highly praised the help and support shown by the governmental sector represented by Capital Market Authority (CMA), and he expressed his appreciation to the receiving banks for their positive cooperation and remarkable participation as all the involved parties have acted as one team to achieve this remarkable success of SITC IPO.
Also, he expressed his sincere appreciation and thanks for the Saudi Integrated Telecom Company and its esteemed management for their trust in AlBilad Investment Company abilities and for giving the opportunity to play that role as a Financial Advisor, IPO Lead Manager and Lead Underwriter, assuring that this trust is an honor for AlBilad Investment and this is an additional success to be added to its successful activities in this field and the other investment’s fields as well.