Arabian Drilling to begin trading on Tadawul on Nov. 7

Logo of Arabian Drilling Co. (ADC)

Arabian Drilling Co. (ADC) will start trading on the Saudi Exchange (Tadawul) on Monday, Nov. 7, under the symbol 2381 and ISIN code SA15L1I156H7.

Shares will trade with ±30% daily and ±10% static price fluctuation limits, Tadawul said in a statement.

From the fourth trading day onwards, the daily price fluctuation limits will revert to +/-10%, while the static price fluctuation limits will no longer apply.

In a sperate statement, the Securities Depository Center Co. (Edaa) said it deposited today, Nov. 3, ADC’s subscribed shares into the accounts of eligible shareholders.

ADC offered 26.7 million shares, or 30% of its capital, to the public. Retail investors subscribed to 2.67 million shares, or 10% of the total offered shares, at SAR 100 each.

The retail offering was 816.45% covered with total orders of SAR 2.18 billion. A minimum of five shares were allocated per subscriber.

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