Morabaha Marina trades between SAR 14.52-17.60 on debut

Logo of Morabaha Marina Financing Co. (MRNA)

The stock of Morabaha Marina Financing Co. (MRNA) is trading between SAR 14.52 - 17.60 on its first trading session on the Saudi Exchange (Tadawul) today, June 21, compared to the listing price of SAR 14.60  

Nearly 19.82 million shares worth SAR 303.50 million have been traded through 21,879 transactions so far.

MRNA shares started trading on Tadawul today under the symbol 4082 and ISIN code SA15QG71VP17. 

Shares are traded with ±30% daily and ±10% static price fluctuation limits. From the fourth trading day onwards, the daily price fluctuation limits will revert to +/-10%, while the static price fluctuation limits will no longer apply. 

The company offered 21.43 million shares, or 30% of its capital after capital top-up, at SAR 14.60 per share. MRNA allocated 90% of the total offered shares to participating parties and 10% to retail investors.   

The retail tranche was 551% covered, while the tranche of participating parties was 401% subscribed.

A total of 194,000 retail investors submitted applications for shares worth about SAR 172.4 million.

Each retail investor received a minimum of 10 shares, while the remaining shares will be allocated pro rata based on the demand size of every subscriber relative to the total shares. The allotment ratio amounted to 2.05%.