RIYADH: Arabian Drilling Co. has seen SR2.18 billion ($580 million) raised from its initial public offering, as retail investors rushed to subscribe to shares despite global market volatility. The Saudi-based onshore and offshore gas and oil rig drilling company saw 497,172 retail investors subscribing to the offering, leading to 816.45 times oversubscription, according to a
RIYADH: Arabian Drilling Co’s initial public offering attracted strong investor interest, with oversubscription by 61 percent. With a share price of SR100 ($27), subscriptions took place between Sept. 28 and Oct. 5, according to a bourse filing. The Saudi Arabia-based drilling company is seeking to float 26.7 million shares, or 30 percent of its capital, through an initial
RIYADH: Arabian Drilling Co., one of the largest oil and gas drilling contractors in Saudi Arabia, has announced its intention to list its ordinary shares on the Saudi main index in an initial public offering. Arabian Drilling said it will sell existing shares representing 19.98 percent of its post-listing share capital, and issue new shares representing 10.11 percent of its