The main Saudi stock index, the TASI, continued its fluctuations during these moments of trading today, Tuesday, as it has not yet settled on a direction, whether up or down.
This comes in conjunction with the rise in MBC Group shares to the maximum for the second day in a row after the stock was listed yesterday, Monday, as it now records a level of 42.25 riyals, after witnessing a rise of 30% for the second day, an increase of 60% in two days.
MBC Group shares were listed on the main Saudi stock market yesterday as the first listing for the year 2024, with an offering price of 25 riyals per share, trading symbol 4072 and international code SA15U0CHVK19.
Tadawul Saudi Arabia previously announced that the daily price fluctuation limits will be 30% for rise and fall during the first three days of listing. After that, the daily volatility limits will be reset to 10% and the fixed price volatility limit will be cancelled. It is noteworthy that the stock has not been added to our website yet and is being added.
At the end of last year, the group listed its shares for subscription, where 33.25 million shares of its ordinary shares were offered at an offering price of 25 riyals per share, representing 10% of the company’s capital.
The total proceeds of the offering exceeded 831 million riyals, which led to the company’s market value rising to 8.3 billion riyals.
The subscription period for individual subscribers extended from December 14 to December 18, 2023. The entire individual segment was fully subscribed at a price of 25 riyals per share, which amounted to 10% of the total shares offered.
359,464 subscribers participated in the offering, while the number of shares offered to individuals reached 3.325 million shares. Individual subscriptions were covered 17.6 times, with the total value of their applications amounting to approximately 1.46 billion riyals, with a minimum allocation of 9 shares per individual.
As for institutional subscription, its coverage reached 66 times, with their orders amounting to about 54.5 billion riyals after setting the share price at the specified maximum of 25 riyals per share.
Saudi market movements now
The Saudi General Index (TASI) is now declining to the level of 12,239 points, by 0.1%, with trades amounting to 257 million Saudi riyals, at 13:02 Saudi time.
While the parallel market index increased by 0.28% to 24,740 points, with trades reaching 747 thousand Saudi riyals.
The general market index, TASI, closed trading yesterday, declining by 0.27%, to the level of 12,252 points.
While the Nomu Index ended yesterday’s trading at an increase of about 0.46%, to the level of 24,671 points.
