RIYADH, 18 July 2007 — The Kingdom Holding Co.’s (KHC) initial public offering (IPO) closes at 4:30 p.m. today. By Monday, the IPO had the participation of 761,000 subscribers and coverage of 81 percent of retail shares, Eisa Al-Eisa, managing director and CEO of Samba Financial Group, the financial adviser and lead manager and underwriter of KHC IPO, said yesterday. The total money invested so far is SR1.307 billion (SR1306.9 million), covering 81 percent of the total shares offered to the retail side. Prince Alwaleed bin Talal, chairman of KHC, said: “I am very pleased that the IPO continues to go strongly and that the subscription process is progressing smoothly and efficiently. This indicates that Saudis are recognizing the potential of the No.1 company in the Kingdom.”
Al-Eisa said that IPO transactions carried out by electronic channels (telebanking, Internet and ATMs) had reached 87 percent of the total IPO subscriptions around the Kingdom by Monday-end, and indicated that the IPO in KHC shares would close today. Al-Eisa announced that the final KHC IPO results would be announced at the beginning of next week. Share allocation and refunds will be announced on July 23 (Monday).