Alinma Investment Company, which is licensed by the Capital Market Authority (license No. 37-09134), and which functioned as the financial advisor, underwriter and lead manager for the IPO of Tokio Marine Saudi Arabia (under formation), has announced that the IPO share allocation for subscribers has been completed in accordance with the mechanism approved by the Capital Market Authority after excluding all applications that are non-compliant with the declared subscription terms. The IPO coverage reached 1,612% with a total value of SAR 967,743,500. The number of subscribers amounted to 1,465,994.
According to Mr. Mohammed Fadaili, the CEO of Alinma Investment, the IPO surplus was refunded to subscribers through the receiving banks on Sunday 9 Jumada I 1433, corresponding to April 1, 2012.
Tokio Marine Saudi Arabia would like to take this opportunity to extend its thanks and appreciation to all subscribers for showing their confidence in the company through their overwhelming response in subscribing during the IPO. The company also extends its thanks and appreciation to all those entities that made the IPO possible, including the founders of the company, Alinma Investment Company, the Capital Market Authority, the Ministry of Trade and Industry, the Saudi Arabian Monetary Agency, the General Investment Authority, and the receiving banks. Appreciation is also extended to the media for their role in disseminating news and information about the IPO to the public in a timely manner. Tokio Marine Saudi Arabia will endeavor to provide the best services and products that satisfy the needs of both retail and corporate clients as well as shareholders.