Logo of Umm Al Qura for Development and Construction Co.
Umm Al Qura for Development and Construction Co. (UQDC) completed the retail subscription for its initial public offering (IPO) on the Main Market (TASI), lead manager Albilad Capital, who is also financial advisor alongside GIB Capital and Al Rajhi Capital, said in a Tadawul statement today, March 13. 
Albilad Capital, GIB Capital, Al Rajhi Capital, and Alinma Investment acted as IPO bookrunners and underwriters.
UQDC’s IPO on TASI was 20x covered, the statement added.
Retail IPO Details
Final Price
SAR 15
Offer Shares
13.08 mln
Number of Retail Subscribers
1.05 mln
Coverage Ratio
20x
Total Orders
SAR 3.93 bln
Allocation
Minimum of 10 shares/subscriber
Rump Shares Allocation
Pro rata at 1.0316%
According to data compiled byArgaam, retail investors started subscribing on March 5 to 13.08 million shares of UQDC at SAR 15 per share — determined through the book-building process.
The IPO’s institutional tranche was 241x covered.
The final price was set at the upper end of the price range at SAR 15 per share, bringing the company’s valuation at around SAR 21.58 billion ($5.75 billion) upon listing.
Logo of Umm Al Qura for Development and Construction Co.
Umm Al Qura for Development and Construction Co. (UQDC) completed the retail subscription for its initial public offering (IPO) on the Main Market (TASI), lead manager Albilad Capital, who is also financial advisor alongside GIB Capital and Al Rajhi Capital, said in a Tadawul statement today, March 13.
Albilad Capital, GIB Capital, Al Rajhi Capital, and Alinma Investment acted as IPO bookrunners and underwriters.
UQDC’s IPO on TASI was 20x covered, the statement added.
Retail IPO Details
Final Price
SAR 15
Offer Shares
13.08 mln
Number of Retail Subscribers
1.05 mln
Coverage Ratio
20x
Total Orders
SAR 3.93 bln
Allocation
Minimum of 10 shares/subscriber
Rump Shares Allocation
Pro rata at 1.0316%
According to data compiled byArgaam, retail investors started subscribing on March 5 to 13.08 million shares of UQDC at SAR 15 per share — determined through the book-building process.
The IPO’s institutional tranche was 241x covered.
The final price was set at the upper end of the price range at SAR 15 per share, bringing the company’s valuation at around SAR 21.58 billion ($5.75 billion) upon listing.
