Tanmiah Food rises 30% to SAR 87.10 on debut

Logo of Tanmiah Food Co.

Shares of Tanmiah Food Co. surged 30% today, Aug. 4, on the first listing day on the Saudi Exchange (Tadawul), to reach SAR 87.10, an increase of SAR 20.10 compared to the listing price of SAR 67.

About 21,000 shares have been traded so far, with a value of SAR 1.8 million, executed through 153 transactions, with an average of 135 shares per transaction.

Tanmiah Food starts trading on Tadawul today, with the symbol 2281, under the Food & Beverages sector.

Daily price fluctuation limits are set at ±30%, while static price fluctuation limits are ±10%.

These fluctuation limits will be applied during the first three days of listing. The daily price fluctuation limits will revert to ±10% and the static price fluctuation limits will no longer apply from the fourth trading day onwards.

Tanmiah Food’s listing is the third on the market this year, following the IPOs of Alkhorayef Water and Power Technologies Co. on March 1 and Theeb Rent a Car Co. on March 29.