Saudi recruitment firm Tamkeen Human Resources has attracted enough retail demand to cover its SR397.5m (US$105.8m) IPO nearly three times.

The 20% tranche attracted SR1.15bn of demand from 389,012 investors leaving it 14.4 times subscribed.

Shares were priced at the top of a SR46–SR50 range after institutional demand covered the offer 13.8 times.

The secondary offer comprises 7.95m shares for a 30% free-float.

A trading date on Tadawul is yet to be set.

BSF Capital ran the deal.

Source: IFR