Ma'aden IPO 117% subscribed on day 8
Monday last day for subscriptions
4.5 million investors pour almost SR 7 billion into Ma'aden IPO
Riyadh, Saudi Arabia,13 July 2008: Sambacapital has declared that at the end of Saturday 12th July subscriptions to Ma'aden’s IPO surpassed 100%. 4,584,000 subscribers have poured SR 6,818,000,000 into the IPO which equates to a total of 117% of the retail offer.
Investors may continue to subscribe until the close of business on Monday 14th July 2008.
After the close of subscriptions, shares will be allocated in three stages. In the first stage, each subscriber will receive a minimum of 25 shares. During the second stage, up to 2000 shares will be allocated to subscribers who have applied for more than 25 shares as long as the total shares allocated do not exceed total shares offered to retail subscribers. If after the second stage there are unallocated shares remaining, then these will be allocated on a pro-rata basis.
Investors are able to subscribe through any of the appointed receiving banks, as well as via electronic means such as telephone and internet banking as well as via ATMs. To date, investors’ preference for transactions to be completed by electronic channels has been very strong and represents 94% of all subscriptions.
JPMorgan is financial advisor and sole bookrunner for Ma'aden’s IPO and Sambacapital is lead manager and lead underwriter.
NOTES TO EDITORS
Ma'aden was established as a Saudi Arabian joint stock company in March 1997 to facilitate the development of Saudi Arabia’s non-petroleum mineral resources and to diversify the Kingdom’s economy away from the petroleum and petrochemical sectors. Ma’aden is engaged in the development, advancement and improvement of all aspects of the mineral industry, mineral products and by-products and related industries in Saudi Arabia. In July 2008 Ma’aden offered 50% of the company’s shares for subscription in a successful SR 9.25 billion IPO. Ma’aden has progressed towards realizing its vision of building a world class mineral enterprise and its mission of being a profitable, publicly owned, international mining company, while maintaining the utmost concern for human resources, health and safety, environmental and social issues.
Ma'aden is engaged in the development, advancement and improvement of all aspects of the mineral industry, mineral products and by-products and related industries in Saudi Arabia. The company is committed to the best international and local standards in environmental regulations and values its role in Corporate Social Responsibility.
Ma'aden has progressed towards realizing its vision of building a world class mineral enterprise and its mission of being a profitable, publicly owned, international mining company, while maintaining the utmost concern for human resources, health, safety, environmental and social issues.
Ma'aden Corporate Communications Department
T: +966 55 3063813
For further information please contact:
Mr. Bander M. Al-Aida
Section Head, Media Relations
Section Head, Media Relations