Economy News – Follow-up
Al-Bilad Investment Company has successfully concluded the private subscription process for the initial public offering (IPO) of Umm Al-Qura Development and Reconstruction. Acting as the subscription manager alongside financial advisors GIB Capital and Al-Rajhi Financial Company, Al-Bilad Investment Company managed the institutional subscription registry and oversaw the coverage process for this IPO.
The subscription period for individual investors, which encompassed 13,078,614 shares—constituting 10% of the total offering—was conducted from March 5 to March 9, 2025.
According to the company, the individual offering for Umm Al-Qura Development and Reconstruction attracted over 1.04 million subscribers, yielding an impressive coverage rate of 20 times. The total demand reached 3.93 billion riyals.
All shares allocated to individual investors, totaling 13,078,614, were fully subscribed at a price of 15 riyals per share through designated receiving bodies.
A minimum allocation of 10 shares will be granted to each individual investor, while the remaining shares will be distributed based on requests relative to the total available. The allocation will be executed on a pro-rata basis, with a rate of 1.0316% allocated according to the size of each subscriber’s request.
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