The initial public offering (IPO) of alizz islamic bank, which closed one-month subscription on October 21, raised RO46 million from investing public. Although the issue manager is yet to announce the subscription figure, it was reliably learnt that the issue was subscribed to the extent of 1.15 times, against an offer of RO40 million.
The retail investors might have subscribed to the tune of RO8-10 million, against their reservation of RO24 million or 60 per cent of the issue amount. As a result, the remaining portion must have been allotted to institutions or the second category of large investors………………………………………..Full Article: Source