Ma'aden has declared that the seventh day of subscriptions witnessed continued interest in its initial public offering. Some 3,724,909 subscribers have poured SR5,435,000,000 into the IPO which equates to a total of 93 percent of the offer at the end of the fourth day. Take-up through electronic channels, such as telephone and internet banking and ATMs, represented 94 percent of the transactions to date. JPMorgan is financial advisor and sole bookrunner for Ma'aden's IPO and Samba Capital is lead manager and lead underwriter. Ma'aden was established as a Saudi Arabian joint stock company in March 1997 and is currently owned 100 percent by the government.
