On the first day of listing and trading the shares of the Arab Company for Arab Technical Contracting, the company’s share topped the Saudi stock market’s gains at the beginning of today’s session, by 10% at a price of 120.8 riyals.
According to Arabia Net, the value of trading on the stock reached about 165 thousand shares, through trading about 1498 shares.
The rise in the Arab Technical Commitments share coincided with the TASI index declining by 0.11%, equivalent to 13.25 points, to reach the level of 11899.8 points.
Saudi Tadawul stated in a previous statement, that the shares of the Arab Technical Contracting Company will be traded with the code 4071, and the international code SA15D1I1VJH7, provided that the daily price fluctuation limits are +/-30%, with the application of fixed limits for price fluctuations at +/- 10%.
Saudi Tadawul stated that these limits will be applied only during the first three days of listing, and starting from the fourth trading day, the daily price volatility limits will be reset to -/+ 10%, and the fixed price volatility limits will be abolished.
Last October, the company offered 15 million shares, representing 30% of the company's capital, 90% of which were allocated to the participating parties and 10% to individuals.
The subscription period for individual subscribers began on Tuesday, October 26, 2021, and ended on Thursday, October 28, 2021 by subscribing to the entire shares allocated to this segment, amounting to 1.5 million shares, at 10% of the total offered shares, at a price of SAR 100 per share. Through the recipients.
The institutional segment was oversubscribed 126 times of the total offered shares, while the individuals’ subscription amounted to 1482%, as the number of subscribers exceeded 650 thousand subscribers who invested 2.2 billion riyals.
