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RIYADH: The Power and Utility Co. for Jubail and Yanbu, known as Marafiq, completed its retail offering with 632 percent oversubscription, the initial public offering financial advisors, HSBC Saudi Arabia and Riyad Capital, said. The firm attracted total orders of nearly SR6.37 billion ($1.7 billion). A minimum of 10 shares were allocated per individual subscriber, while the
RIYADH: Saudi utility firm Marafiq’s initial public offering has seen strong demand, recording 59 percent oversubscription in the book-building period. With a share price of SR46 ($12), the subscription period took place for five days starting Oct. 9, the financial advisor of the offer, HSBC Saudi Arabia, and Riyad Capital, said in a filing. The Individual Investors tranche