Al-Dawaa stock to debut on March 14

Logo of Al-Dawaa Medical Services Co.

Al-Dawaa Medical Services Co. (DMSCO) will begin trading on the Saudi Exchange (Tadawul) on Monday, March 14, with the symbol 4163 and ISIN Code: SA15H14I11H6, Tadawul said in a statement.

The stock will have daily price fluctuation limits of +/- 30% and static fluctuation limits of +/- 10%.

These fluctuation limits will apply in the first three days of listing. 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.

In a separate statement, the Securities Depository Center Co. (Edaa) announced that it will deposit today, March 10, DMSCO’s subscribed securities into the center’s accounts of eligible securities holders

The company offered 25.5 million shares, representing 30% of its capital, of which 90% was allocated to participating parties and 10% to retail investors, according to data compiled by Argaam.

The retail offering was 2,515% oversubscribed, where each retail investor will receive a minimum of two shares, while the remaining shares will be allocated on a pro-rata basis, based on the demand size of every subscriber to total shares with an allocation factor of 0.5299%.

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