GIB Capital

Enter search term

GIB Capital


Announcement of the results of the Retail offering process for the initial public offering of Al-Dawaa Medical Services Company
Back 8 March 2022

GIB Capital in its capacity as Lead Manager on the initial public offering (“IPO”) of Al-Dawaa Medical Services Company (“Al-Dawaa” or the “Company”) announces the successful completion of the Offering to Individual Investors. Each Individual subscriber will receive a minimum of (2) two shares, while the remaining shares will be allocated on a pro-rata basis based on demand size to the remaining demand with an allocation factor of 0.5299%. Fraction shares were collated and allocated one share per application starting from the highest order in descending order.

The company Offered 25,500,000 shares, representing 30% of the company’s capital, which was allocated 90% to Participating Parties and 10% to Individual Investors.

The subscription period for Individual Investors Tranche, comprising 2,550,000 shares representing 10% of the total offering at a final Offer Price of SAR 73, commenced on 27 February 2022G and ended on 1 March 2022G.

Details of Individual Investor tranche:

– Number of Retail Subscribers: 1,110,942

– Number of shares offered to retail subscribers: 2,550,000

– Offer Price: SAR 73

– Retail tranche coverage: 2,515%

– Total amount of retail subscriptions: SAR 4,682,584,270

– Minimum allocation to retail investors: two (2) shares

– Average allocation factor of remaining retail shares allocation: 0.5299%

Refunds to retail investors will be processed no later than 9 March, 2021.

GIB Capital is a Single Shareholder Company (Commercial Registration No. 1010244294) with paid-up capital of SR 200,000,000.

GIB Capital obtained its license from the Capital Market Authority under license number 07078-37 on 08/07/1428H (corresponding to 22/07/2007G). GIB Capital obtained the approval to proceed with its business activities from the Capital Market Authority on 03/04/1429H (corresponding to 12/04/2008G).

GIB Capital provides corporate finance services in the Saudi capital markets, and is licensed to carry out the following activities by the Capital Market Authority (“CMA”):

  • Dealing as:
    • Principal
    • Agent
    • Underwriter
  • Managing
    • Investment fund management
    • Discretionary portfolio management
  • Arranging
  • Advising
  • Custody

GIB Capital is a subsidiary of Gulf International Bank B.S.C. with registered office at Low Rise Building 1, Granada Business & Residential Park, Eastern Ring Road, P.O. Box 89589, Riyadh 11692, Kingdom of Saudi Arabia.