Logo of Fourth Milling Co. (MC4)
Fourth Milling Co. (MC4) closed its retail offering, which was nearly 3.94x covered, Riyad Capital, the financial advisor, bookrunner, lead manager and underwriter on the initial public offering (IPO) on the Main Market (TASI), said. 
Rump shares will be distributed on a pro-rata basis, determined by demand for these shares, at an average allocation factor of 24.1885%, it added.
Fractional shares were collated and allocated in a descending manner at one share per order.
Details of Retail Subscription
Number of Offer Shares
32.4 mln
Offer Price
SAR 5.30 per share
Coverage Ratio
3.94x
Total Value of Orders
SAR 677.05 mln
Minimum Allocation
10 shares
Allocation of Rump Shares
24.1885%
The subscription period for retail tranche, comprising 32.4 million shares at a final offer price of SAR 5.30 apiece (based on the book-building), ran for two days starting Oct. 2, Argaam’s data showed.
The retail tranche represented 20% of the offer shares.
Meanwhile, the institutional offering was recently concluded. It was nearly 119x subscribed.
Logo of Fourth Milling Co. (MC4)
Fourth Milling Co. (MC4) closed its retail offering, which was nearly 3.94x covered, Riyad Capital, the financial advisor, bookrunner, lead manager and underwriter on the initial public offering (IPO) on the Main Market (TASI), said.
Rump shares will be distributed on a pro-rata basis, determined by demand for these shares, at an average allocation factor of 24.1885%, it added.
Fractional shares were collated and allocated in a descending manner at one share per order.
Details of Retail Subscription
Number of Offer Shares
32.4 mln
Offer Price
SAR 5.30 per share
Coverage Ratio
3.94x
Total Value of Orders
SAR 677.05 mln
Minimum Allocation
10 shares
Allocation of Rump Shares
24.1885%
The subscription period for retail tranche, comprising 32.4 million shares at a final offer price of SAR 5.30 apiece (based on the book-building), ran for two days starting Oct. 2, Argaam’s data showed.
The retail tranche represented 20% of the offer shares.
Meanwhile, the institutional offering was recently concluded. It was nearly 119x subscribed.
