Milling it on Tadawul

Milling it on Tadawul

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  • First Milling (First Mills) commenced trading on Saudi Exchange with symbol 2283 at SAR 60/share. It is the fourth company to debut on Tadawul this year, following Al Mawarid Manpower Co. on June 19, Jamjoom Pharmaceuticals Factory, Morabaha Marina Financing, and Alinma Hospitality REIT Fund.
  • Mills will be the newest addition to the Tadawul-listed companies, increasing the total count to 210, excluding 18 REITs. The company made available 16.65 million shares, which accounts for 30% of its capital. Among the offered shares, 90% were assigned to participating parties, while the remaining 10% were designated for retail investors.

Why it matters

The retail tranche was oversubscribed by 996.9%, while the participating parties tranche was oversubscribed by 68.9x. A total of 334,020 retail investors applied for shares worth SAR 995.9 million. Each investor received a minimum of four shares, with the remaining shares allocated pro rata based on demand. The allotment ratio was 2.1552%.

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