Arabian Mills saw a 10% retail tranche subscribed 9.2 times as it completed the final leg of its SR1.02bn (US$271m) Tadawul IPO.

The tranche of just over 1.5m shares attracted SR930.6m of demand from 264,179 investors.

Shares previously priced at the top of a SR62–SR66 range after the institutional leg was covered 132 times, valuing the company at SR3.39bn.

HSBC was sole bookrunner.

Source: IFR