This bond issue will be directed to Swedish and international
qualified institutional investors.
Summary:
Qualified institutional investors pick up 50% meant for them but retail subscription flounders at just 4%
275bn through sale of shares to
qualified institutional investors.
The transaction was conducted via a public offering in Poland directed to Polish retail and institutional investors, and by a global offering addressed to institutional investors in other jurisdictions outside the US in accordance with Regulation S of the United States Securities Act of 1933, as amended, as well as in the US to
qualified institutional investors under Rule 144A of the Securities Act.
The delegation, which included a number of employees of the Saudi Stock Exchange under its Chief Executive Officer Adel Al-Ghamdi, Capital Market Authority and representatives of the major exporters in the Kingdom, sought to promote awareness and shed light on the Saudi market before investors at the international level, in addition to the participation in bilateral meetings and talks with regional officials and leaders in the private sector, and
qualified institutional investors looking to enter the Saudi market.
Marathon Capital said it will be seeking additional cash equity from
qualified institutional investors to invest alongside Tenor Capital's investors.
The shares would be offered to public investors through a book building process wherein 50 per cent of the net issue would be allotted on a proportionate basis to
qualified institutional investors while the company may allocate up to 60 per cent of the QIB portion to anchor Investors on a discretionary basis.
Offers will be made to investors in (i) an Egyptian public offering (15 per cent of the Offering, equivalent to 90 million shares), as well as (ii) through a private placement to
qualified institutional investors in a number of countries, including Egypt (85 per cent of the Offering, equivalent to 510 million shares) (the "Institutional Offering").
Qualified institutional investors will be eligible to buy 60%of the 2.
About 30 per cent of the IPO is being made available to individual investors and 70 per cent to
qualified institutional investors, subject to demand, EMG said.
These shareholders, grouped under the umbrella of the "Center for the Protection of Rights of Shareholders and Investors of Cypriot Banks" said that their stakes will be diluted after any capital increase and that they were disqualified from participating in the private placement to "certain institutional investors in the European Union who are 'qualified investors' and similarly
qualified institutional investors in other jurisdictions.
4m (USD964m) from the sale of around 7% in Portuguese oil and gas group Galp Energia SGPS SA (ELI:GALP) to
qualified institutional investors.
