solutions by stc surges 30% to SAR 196.20, transaction executed on 20,000 shares

Logo of Arabian Internet and Communications Services Co. (solutions by stc)

The stock of Arabian Internet and Communications Services Co. (solutions by stc) traded 30% higher at SAR 196.20 on debut today, Sept. 30, a rise of SAR 45.20 compared to its offer price of SAR 151. 

A total of 622,300 changed hands in 20,500 transactions at a total value of SAR 122 million with 30 shares in average per transaction. 

Buy orders were placed on 4.5 million shares.  

solutions by stc started trading on the Saudi Exchange (Tadawul) today under the Software & Services sector, with the symbol 7202 with +/-30% daily price fluctuation limits and +/-10% static price fluctuation limits.

These fluctuation limits will be 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 limits will no longer apply.

solutions by stc is the fourth market entrant this year after Alkhorayef Water & Power Technologies Co. on March 1, Theeb Rent a Car Co. on March 29, and Tanmiah Food Co. on Aug. 4.