TALCO ends 1st trading session on TASI with 14% gain

Logo of Al Taiseer Group Talco Industrial Co. (TALCO)

Al Taiseer Group Talco Industrial Co.’s (TALCO) stock climbed by 14% to close today, June 13, at SAR 49.20 per share (SAR 6.2 above the listing price), in its first trading session on the Saudi Exchange (Tadawul).

Nearly 21 million shares worth SAR 1.04 billion were traded through about 73,000 transactions.

TALCO started trading on Tadawul today, with the symbol 4143 and ISIN Code: SA162GLI0NH7, at SAR 43/share, according to data compiled by Argaam.

The stock will trade with ±30% daily and ±10% static price fluctuation limits in the first three days.

The company floated 12 million shares, or 30% of its capital, at SAR 43 per share. As much as 90% of offered shares were allocated to participating parties, while the remaining 10% was allotted to retail investors.

The retail coverage reached 17.4x, while the tranche of participating parties was 68.5x subscribed.

Each retail investor received a minimum of one share, while the remainder will be allocated pro rata, based on the demand size of each subscriber to total shares. The pro-rata allotment ratio amounted to 2.5389%.