JEDDAH – The book building process for FARM Superstores' IPO has been completed successfully, Adeeb Abdulrahman Al-Sowailim, Chief Executive Officer of FALCOM Financial Services, the Lead Manager and Book Runner, said. During the book building process, the offered shares were covered 9.98 times at SR36. The coverage ratio for the institutional investors is: CMA Authorized Persons – 443 percent, Public Companies listed on Saudi Stock Exchange – 370 percent and Investment Funds – 185 percent with a total coverage of 998 percent. Al-Sowailim said institutions and investment funds subscribed to the entire offered shares of 7,500,000 during the first stage. He further stated that with the successful closing of the first stage, 3,750,000 shares representing 50 percent of the total offered shares in FARM Superstores will now be offered to retail investors at SR36 during the second stage from Jan. 22-28, 2014. He added that the success enjoyed by FARM Superstores IPO was a result of its strong brand image and recognition in the market, strong financial results, and its expansion plans for the coming years. Al-Sowailim thanked the team at CMA for their efforts, professionalism, and contribution to the success of the IPO, the first for 2014. The final prospectus with the offering price of SR36 will be available to the public at all branches of the receiving entities. In addition, the final prospectus will be available on the websites of CMA, FARM Superstores, and FALCOM. — SG
