Saudi Manpower Solutions Company (SMASCO) achieved strong gains yesterday, Wednesday, in its first trading session on the main market of the Saudi Stock Exchange, topping the market gains.
The stock jumped 24.27% by 10:43 Saudi time, increasing its price by 1.82 riyals, to reach 9.32 riyals.
The value of trading on the stock reached 550.94 million riyals at this time, through trading on 58.26 million shares, through 38.11 thousand transactions.
The commercial services sector, in which SMASCO is listed, declined at that moment by 1.31%, while the general index of the market, TASI, rose by 0.10% at that time, with gains of 11.67 points, reaching 11,787.14 points.
The market trading value reached 1.9 billion riyals, through trading 156.59 million shares, through the execution of 143.35 thousand transactions.
Yesterday, Wednesday, the main market of the Saudi Stock Exchange received the shares of the Saudi Manpower Solutions Company (SMASCO) with a trading symbol of 1834 and an international symbol of SA562G3GSL11.
It is worth noting that the daily price fluctuation limits for the share are +/- 30% with the application of fixed price fluctuation limits at +/- 10%, noting that these limits will only be applied during the first three days of listing, and starting from the fourth day of trading, the daily price fluctuation limits will be reset to -/+ 10%, and the fixed price fluctuation limits will be cancelled.
AlAhli Capital, as the subscription manager, financial advisor, institutional subscription book manager, and underwriter for the initial public offering of Saudi Manpower Solutions Company, had previously announced the completion of the offering process for individuals and the allocation of a minimum of 10 shares to each individual subscriber included in the subscription application.
SMASCO offered 120 million shares, representing 30% of the company’s capital, 90% of which was allocated to participating categories and 10% to individuals.
