Arabian Mills stock falls in TASI debut with 13.6M shares traded

Logo of Arabian Mills Co.

Shares of Arabian Mills for Food Products Co. plunged by less than 1% in the first trading session on the Main Market (TASI) today, Oct. 8, reaching SAR 65.80 apiece (SAR 0.20 below the listing price).

The stock traded between SAR 65.80-72.60 during today's session.

The company recorded a traded volume of about 13.6 million shares, through nearly 57,000 transactions, with a turnover of SAR 943 million.

The stock will have daily and static price fluctuation limits of ±30% and ±10%, respectively. 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 limit will no longer apply.

The company earlier floated 15.39 million shares, or 30% of its capital, at SAR 66 each. Retail investors were allocated 10% of the total offered shares, while institutional investors took the remaining 90%.