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Riyadh, KSA; June 4, 2016: L’azurde Company for Jewelry (“L’azurde” or “the Company”) and SaudiFransi Capital today held an official signing ceremony to formalize agreements with the receiving banksfor its Initial Public Offering (IPO). The ceremony was held at the offices of Saudi Fransi Capital, the leadmanager, bookrunner and underwriter for the IPO.
The signing ceremony comes after the successful offering of 12.9 million shares to institutionalinvestors, with demand exceeding expectations and the offer being oversubscribed by 8.6 times.
From Sunday 5 th June to Monday 13 th June, retail investors in Saudi Arabia will have the opportunity tosubscribe to up to 30% of the offered shares at a price of SAR37 per share.
Retail investors can apply for a minimum of 10 shares, and a maximum of 250,000 shares, through anyof the nominated receiving banks (Selling Agents) including: The National Commercial Bank, SaudiHollandi Bank, Banque Saudi Fransi, Samba Financial Group, and Riyad Bank. Investors who havesubscribed to previous IPOs can also subscribe through the internet, telephone banking or ATMs of anyof the Selling Agents.
Mohammed Al Shroogi, Chairman of L’azurde and Co-CEO of Investcorp,said: L’azurde has performedexceptionally well over the last few years and we are delighted with the interest expressed byinstitutional investors in the Company’s offering. As the last phase of the IPO approaches with the retailoffering on June 5, we are grateful for the collaboration and efforts of all involved in reaching thisremarkable achievement.”
Sélim Chidiac, CEO of L’azurde, said: “The response from Institutional Investors to L’azurde’sproposition has been extremely encouraging and we hope to see a similar level of interest from retailinvestors in the Kingdom. We would like to extend our thanks to the CMA and Tadawul for theircontinued support during the IPO process and we look forward to continuing on our path to growth as apublicly listed company on the region’s largest and most prestigious stock exchange. ”
Additional information is available in the prospectus, which is available on the CMA, Saudi Fransi Capital,and L’azurde’s websites.