Tamkeen Human Resources Company (“Tamkeen” or the “Company” or the “Group”), one of Saudi Arabia’s premier providers of innovative human resources solutions, today announces the successful completion of the individual investor offering period and the final allotment of shares in relation to its initial public offering (the “IPO” or the “Offering”).
Following the successful completion of the institutional book-building period, which set the Final Offer Price at SAR 50 per share and resulted in 138.2 times oversubscription, the individual investor offering took place from 5 November to 6 November 2024G. The number of shares allocated to Individual Investors was 1,590,000 Offer Shares, representing 20% of the total Offer Shares. The offering saw 389,012 individual investors place orders totaling SAR 1.147 billion, reflecting a subscription coverage of 14.43 times for this tranche.
The Company allocated a minimum of 4 shares to each Individual Investor, with the remaining shares allocated on a pro-rata basis, based on the size of demand, with an average allocation factor of 0.159%. Shares were distributed in descending order, starting with the highest demand, until all shares were fully allocated.
Confirmation of Offer Details:
- The Final Offer Price for the Offering has been set at SAR 50 per share
- The total size of the Offering is SAR 397.5 million.
- Following the IPO, 30% of Tamkeen’s shares are expected to be freely floated on the Main Market of the Saudi Exchange (Tadawul).
- The Company’s shares will be listed and traded on the Saudi Exchange following the completion of the Offering and all listing formalities with the CMA and Saudi Exchange.
