Saudi Fransi Capital announces that 179.01% of the shares offered to the retail tranche were covered by the end of the seventh day

Saudi Fransi Capital, the financial advisor, lead manager, bookrunner and sole underwriter for L’azurde Company for Jewelry (“L’azurde”) states that the number of retail investors amounted to 283.96 thousand by the end of the seventh day. Amount subscribed reached to SAR 256.32 million through 52.17 thousand applications and was covered by approximately 179.01%.

It is worth noting that the subscription period for the retail tranche commenced on Sunday 5 June 2016 and will continue for 9 days until Monday 13 June 2016, where 3.87 million shares representing 30% of the offered shares i.e. 12.9 million shares are being offered to the retail investors. 

‘L’azurde is owned by a consortium of private equity firms comprising Investcorp, Eastgate Capital and The National Investor alongside the Al Othaim family’