Edaa deposits Avalon Pharma subscribed shares into shareholder accounts

25/02/2024 Argaam

Edaa deposits Avalon Pharma subscribed shares to shareholder accounts

Logo of Middle East Pharmaceutical Industries Co. (Avalon Pharma)

The Securities Depository Center Co. (Edaa) announced that it deposited today, Feb. 25, the subscribed shares of Middle East Pharmaceutical Industries Co. (Avalon Pharma) into shareholder accounts, according to Tadawul website.

 

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Retail investors started subscribing to 600,000 shares of Avalon Pharma on Jan. 30 at the book-building price of SAR 82 per share, according to data available with Argaam.

 

The offering was 54.3x covered, and the company allocated a minimum of two shares per substantial subscriber.

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