1170.48% Retail Subscription Coverage for Tanmiah IPO

RIYADH, Saudi Arabia, Aug. 1, 2021 /PRNewswire/ -- Saudi Fransi Capital, the Financial Advisor, Lead Manager, Bookrunner and Underwriter for the Initial Public Offering ("IPO") of Tanmiah Food Company ("Tanmiah" or the "Company") has announced the end of the public subscription period for the offered shares on Tuesday 17/12/1442H (corresponding to 27/07/2021G). The coverage ratio for the offered shares by individual subscribers (the "Retail Tranche") reached 1170.48% and the total number of individual subscribers reached 69,598, injecting SAR 470,532,290 to subscribe to six hundred thousand (600,000) Ordinary Shares at a price of SAR 67 per share.

In accordance with the IPO Prospectus, six hundred thousand (600,000) Ordinary Shares have been allocated to individual subscribers, representing 10% of the total shares offered for public subscription, while five million four hundred thousand (5,400,000) Ordinary Shares have been allocated to institutional subscribers, representing 90% of the total shares offered for subscription.

Saudi Fransi Capital noted that the receiving bank will work to complete the procedures for returning surplus subscriptions no later than 25/12/1442H (corresponding to 04/08/2021G), and that the listing of the Company's shares on the Saudi Stock Exchange will take place after completing all relevant requirements and procedures. The listing date will be announced on the website of the Saudi Stock Exchange.

The prospectus for the subscription was published on the website of the Capital Market Authority www.cma.org.sa, the website of Tanmiah Food Company www.tanmiah.com, and the website of Saudi Fransi Capital www.sfc.sa.

Logo - https://mma.prnewswire.com/media/1552331/Tanmiah_Food_Company_Logo.jpg

For media enquiries, please contact:
George Allen
George.Allen@Instinctif.com
+971 4 369 9353

View original content:https://www.prnewswire.com/news-releases/1170-48-retail-subscription-coverage-for-tanmiah-ipo-301345711.html

SOURCE Tanmiah Food Company