The listing and trading of the shares of the Arab Company for Internet and Communications Services will begin tomorrow, Thursday, 02/23/1443 AH.
According to Arabia Net, trading will be carried out with the symbol 7202 and the international symbol SA15CIBJGH12, provided that the daily price fluctuation limits are +/-30% with the application of fixed limits for price fluctuation at +/ - 10%.
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.
The Arab Internet and Communications Services Company had offered 24 million shares, representing 20% of its capital, 90% of which were allocated to institutions and 10% to individual investors.
On Monday evening, the company announced the successful completion of the individual subscription process in its IPO, explaining that the segment of individual subscribers witnessed the participation of about 1.04 million individuals, with a coverage that exceeded the target by about 2365%, and requests for With a value of 8.6 billion riyals.
A minimum of two shares have been allocated to each individual subscriber included in the subscription application, while the remaining shares will be allocated on a pro-rata basis based on the size of each subscriber's request to the total remaining shares required Subscription in it, with an allocation rate of 0.5776% on average.
