Miahona closes 30% higher on debut

Logo of Miahona

Miahona's shares jumped 30% (SAR 3.44) to end at SAR 14.94 on the Saudi Exchange (TASI) today, June 6, compared to the listing price of SAR 11.50.

Approximately 2.14 million shares worth SAR 31.8 million were traded via around 4,262 transactions. Miahona Co. began trading on TASI today, under the symbol 2084 and ISIN Code SA562G5H0I13, at SAR 11.50 a share.

The stock has daily and static price fluctuation limits of ±30% and ±10%, respectively. These fluctuation limits are applied during 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 limit will no longer apply.

The company offered 48.3 million shares, or 30% of its capital, at SAR 11.50 per share. 80% of offered shares were allocated to participating parties, while the remaining 20% were allocated to retail investors. The nominal value reached SAR 1 a share, according to data available with Argaam.