Arabian Drilling shares 61% oversubscribed, final price set at $27

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 public offering on the Saudi main index.