Tadawul says listing, trading of Al Arabia shares to begin on Nov. 15

Logo of Al Arabia

The Saudi Exchange (Tadawul) announced the shares of Arabian Contracting Services Co. (Al Arabia) will be listed and begin trading from Nov. 15, under the symbol 4071, ISIN Code SA15D1I1VJH7, and with a +/-30% daily price fluctuation limit per share.

These fluctuation limits will be applied during the first three days of listing, and from the fourth trading day onwards, the daily price fluctuation limits will revert to +/- 10%. The static price fluctuation limits will no longer apply.

According to data compiled by Argaam, the Securities Depository Center Co. (Edaa) announced the addition of the subscribed securities in Al Arabia today, Nov. 11, to the accounts of eligible securities’ holders.

From Oct. 26-28, retail investors subscribed to about 1.5 million shares of Al Arabia, at SAR 100/share, determined by the book-building process.

Coverage ratio for the company's shares offered to retail investors reached 1,480%. Number of subscribers reached more than 650,000 who invested more than SAR 2.2 billion.

A minimum of two shares were allocated to each individual subscriber.

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