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Burgerizzr sets IPO share price at $44

A total of 725,000 ordinary shares were fully subscribed, representing 29% of Burgerizzr’s total shares.
By TRENDS Desk
September 3, 2021 7:42 am
  • The coverage ratio amounted to 6,646% of the total IPO shares.
  • The company is yet to coordinate with Tadawul to finalize the date of the listing

The initial public offering (IPO) of Mataam Bayt AlShatira Lilwajbat Alsariya Company (Burgerizzr) is taking shape, with the setting of the final offer price at SR165 ($43.9) per share, the Saudi company announced in a stock filing.

The coverage ratio amounted to 6,646% of the total IPO shares. A total of 725,000 ordinary shares were fully subscribed, representing 29 percent of the company’s total shares, the filing said.

Its advisor and lead manager Emirates NBD Capital KSA is yet to coordinate with Tadawul to finalize the date of the listing.

Last June, the Saudi Capital Market Authority (CMA) had approved the IPO of Burgerizzr to trade on the Parallel Market (Nomu).

The offering period had started on August 15 and ended on August 23.

 

 

 

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