SACO shares set to trade on Tadawul tomorrow

11/05/2015 Argaam

 

Saudi Company for Hardware (SACO) will begin trading tomorrow on the Saudi Stock Exchange (Tadawul) under code 4008, the bourse said in a statement.

 

The fluctuation limit will stand at 10 percent.

 

According to data available on Argaam, SACO offered six million shares in an initial public offering (IPO) at SAR 70 each. 

 

Retail investors subscribed for 2.88 million shares, or 40 percent of the floated shares.

 

The share sale was 620 percent oversubscribed by 1.08 million investors for SAR 1.25 billion.Three shares were allocated to each individual investor.

 

IPO

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