Tanmiah Food Company said that it has completed the book building process for institutional subscription to the company's shares, and that the coverage ratio reached 9,534%. The price of the offered shares has been set at SR 67 per share.

Tanmiah Food Company said that it has completed the book building process for institutional subscription to the company's shares, and that the coverage ratio reached 9,534%. The price of the offered shares has been set at SR 67 ($17.8) per share.

Saudi Fransi Capital, the financial advisor, lead manager, bookrunner and underwriter for the Initial Public Offering (IPO), advised that the participating institutions have subscribed to all of the offered shares, with 6,000,000 Ordinary Shares allocated, representing 100% of the total shares offered for subscription during the Institutional Tranche.

With the successful completion of the book building process, as a second stage, a maximum of 600,000 Ordinary Shares, representing 10% of the total shares offered for public subscription, will be allocated to individual subscribers (the Retail Tranche).

Saudi Fransi Capital confirmed that it has completed all preparations with the receiving bank, Banque Saudi Fransi, to receive individual investors’ subscription requests, which will be for a period of one day only, on July 27, 2021. – TradeArabia News Service