Almajed Oud ends 30% up after market debut

07/10/2024 Argaam Special
Logo ofAlmajed Oud Co.

Logo of Almajed Oud Co.

Shares of Almajed Oud Co. closed 30% higher at SAR 122.20 on their first day of trading, SAR 28.20 above the listing price.
 
Nearly 226,100 shares changed hands in about 5,300 transactions at SAR 27.54 million. Buy orders were placed on more than five million shares.
 

The company’s shares began trading on Tadawul today under the symbol 4165 and ISIN Code SA164HF212H1, at SAR 94 a share.

 

Almajed Oud offered 7.5 million shares, or 30% of its capital, at SAR 94 per share. 80% of offered shares were allocated to participating parties, while the remaining 20% were allocated to retail investors.

 

The retail coverage reached 821.3% while the tranche of participating parties was 156.5x subscribed.

 

Each retail investor received a minimum of six shares, while the remaining shares will be allocated pro rata, based on the demand size of every subscriber to total shares. The allotment ratio amounted to 0.76% pro rata.

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