United International debuts today on TASI at SAR 132/share

Logo of United International Holding Co. (UIHC)

United International Holding Co. (UIHC) began trading on the Main Market (TASI) today, Dec. 3, under the symbol 4083 and ISIN Code SA165I21VPH1, at SAR 132 a share.

The stock will trade in the first three days with daily and static price fluctuation limits of +/-30% and +/-10%, respectively. From the fourth trading day onwards, the daily price fluctuation limits will revert to +/-10%, while the static limits will no longer apply.

For More IPOs

This is the 13th listing on TASI in 2024, in addition to Alistithmar AREIC Diversified REIT Fund.

Last year, seven companies listed on TASI, including Al Mawarid Manpower Co., Jamjoom Pharmaceuticals Factory Co. (Jamjoom Pharma), Morabaha Marina Financing Co. (MRNA), First Milling Co., Lumi Rental Co., ADES Holding Co., and SAL Saudi Logistics Services Co., besides the listing of Alinma Hospitality REIT Fund.

With United International, the number of companies listed on TASI reached 226, excluding 19 real estate traded funds.

United International offered 7.5 million shares, or 30% of its capital, at SAR 132/ share. The company allocated 90% of the shares on offer to participating parties, while the remaining 10% was set aside for retail investors.

The retail offering was almost 9.1x covered, with a total order value of SAR 903.5 million, while participating parties were 132x covered.

The company allocated a minimum of three shares per retail subscriber. Rump shares were distributed on a pro rata basis of 1.6974%.

Company Profile

United International Holding Co., a subsidiary of United Electronics Co. (eXtra), is the parent company of United Company for Financial Services (Tasheel Finance), and Procco Financial Services.

Founded in 2021 and based in Khobar, the company focuses on consumer financing under the Saudi Companies Law, Finance Companies Control Law, and related regulations issued by the Saudi Central Bank.

As a holding entity, United International has no independent operations. It manages subsidiaries, participates in other ventures, and provides support. Its activities include owning operational assets, investing in equities and securities, and extending financing and guarantees to subsidiaries.

The company also holds intellectual property rights, including patents and trademarks, and licenses or leases these rights to subsidiaries or third parties.