The Saudi Stock Exchange (Tadawul) announced the start of trading the shares of Elm Company on the Stock Exchange starting today, Wednesday, February 16, 2022.
The Stock Exchange said that the shares of Elm will be traded with the number (7203) and the international code (SA15GG53GHH3), provided that the daily price fluctuation limits are 30%, up or down, with the application of Fixed limits for price fluctuation at 10% up or down.
The stock exchange clarified earlier 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%, a decrease or an increase, and the abolition of the fixed limits of price fluctuation.
The company had offered 24 million shares, representing 30% of its capital, at a price of 128 riyals per share, of which 70% were allocated to the participating classes and 30% to individuals.
A total of 7.2 million shares were allocated to the individual segment, and the coverage ratio exceeded 1300%, with a minimum of 6 shares allotted to each subscriber.
The shares offered by the institutions were covered by about 69.5 times, and the total volume of applications submitted amounted to about 213.2 billion riyals.
The volume of local investor requests amounted to 206 billion riyals, with a coverage rate of (67.14) times, including all requests received from public and private funds, managed investment portfolios, government institutions, and companies listed in The Saudi financial market, private companies and financial market institutions.
It is reported that Elm is owned by the Public Investment Fund and is working to enhance the Kingdom's efforts in digital transformation to build a knowledge economy.
