Alkhorayef Water shares to debut on Tadawul on March 1

Alkhorayef Water & Power Technologies Co.'s logo

The Saudi Stock Exchange (Tadawul) announced that the listing and trading of Alkhorayef Water & Power Technologies Co. (AWPT) shares will take place on Monday, March 1, 2021, with symbol 2081 and ISIN Code SA1591410GH0, with +/- 30% daily price fluctuation limits and +/- 10% static price fluctuation limits.

These fluctuation limits will be applied during the first three days of listing, and from the fourth trading day onwards, the daily price fluctuation limits will revert to +/- 10% and the static price fluctuation limits will no longer apply, Tadawul said in a statement.

In a separate statement, the Securities Depository Center Co. (Edaa) announced the addition of the subscribed securities in Alkhorayef Water today, Feb. 25, into the center’s accounts of eligible securities’ holders.

AWPT floated a 30% stake, or 7.5 million shares, in an initial public offering (IPO), out of which 90% was allocated to institutions and 10% to retail investors, according to data compiled by Argaam.

The retail offering was 1,511.52% oversubscribed, with a total of 136,988 individual investors injecting SAR 816.22 million to buy 750,000 shares at SAR 72 per share.