MC4 ends TASI debut session unchanged, 210M shares traded

Logo of Fourth Milling Co. (MC4)

Fourth Milling Co.’s (MC4) traded between SAR 5.25 and SAR 5.79 in its debut session on the Main Market (TASI) today, Oct. 29.

The stock ended today’s trading unchanged at SAR 5.30 a share.

Nearly 210 million shares, or 39% of the company’s 540 million shares (worth SAR 1.15 billion), were traded through about 80,000 transactions.

MC4 started trading on TASI today, under the symbol 2286 and ISIN Code SA16502H3N15, at SAR 5.30/share, according to data compiled by Argaam.

The stock will trade with ±30% and ±10% daily and static price fluctuation limits, respectively, in the first three days.

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 floated 162 million shares, or 30% of its capital, at SAR 5.30 per share. As much as 80% of offered shares were allocated to participating parties, while the remaining 20% was allotted to retail investors.

The retail coverage reached 3.94x, while the tranche of participating parties was 119x subscribed.

Each retail investor received a minimum of 10 shares, while the remainder were allocated pro rata, based on the demand size of each subscriber to total shares. The pro-rata allotment ratio amounted to 24.1885%.