 SAMBA And Participating Banks Have Finalized The Refunds Of KHC IPO And Are Refunding SR 5.3 Billion
Eisa Al Eisa, the executive president of Samba Financial Group, the financial advisor, lead manager and underwriter of the KHC IPO announced the completion of the allocation of share refunds for all the retail subscribers in the Kingdom Holding Company ("KHC") who reached more than 1.251 subscribers, where a minimum of 50 shares were allocated for every subscriber of the retail. The rest of the shares were allocated on a ratio basis according to the ratio of what was requested by each subscriber, to the total of the shares subscription with a ratio of 23.095%.
All the receiving banks have completed refunding SR 5.3 billion today Monday 23rd July, out of the total amount raised after the shares allocation process that have been finally approved by CMA.
Commenting on the IPO, HRH Prince Alwaleed, chairman of KHC said: "On behalf of KHC and the management team I would like to thank all involved in helping us with this successful IPO. The Saudi people have today become part of Kingdom Holding and part of our future. They are now shareholders in Saudi Arabia`s Number 1 company and one of the world`s most successful investment groups."
Eisa Al Eisa was very pleased that the process was now complete and commented: "I am delighted with the official support we have received from the CMA and the excellent efforts made by all the receiving banks to ensure subscription applications were delivered quickly and efficiently. This shows great team work and has enabled SAMBA to complete yet another successful IPO. I also thank KHC for its trust in choosing Samba Financial Group to manage this IPO operation." |
