Riyadh Cables stock recorded a decline of 2.7% on its first trading day on the Saudi stock market, at 12:30 Riyadh time.
According to Arabiya Net, Riyadh Cables stock topped the trading value, with a value of 265 million riyals, with a trading volume of about 6.3 million shares.
The final offering price was set at 43 riyals per share.
The Saudi stock market witnessed the listing and trading of shares of the Riyadh Cables Group Company, within the capital goods sector, with the trading code 4142 and the international symbol SA15LGLI0N19, 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.
Saudi Tadawul had said earlier that these limits will be applied only 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%, up or down, and the fixed limits for price fluctuation will be abolished.
Riyadh Cables offered 33 million shares representing 22% of the company's capital, 90% of which was allocated to participating entities and 10% to individuals.
The offering of the share of the participating entities was covered by 71.8 times of the total shares offered, and the completion of the offering process for the individual category, with a coverage rate of 671.5%.
The listing of Riyadh Cables Group is the 15th listing in the main market, TASI, during the current year.
With the inclusion of Riyadh Cables shares, the number of companies listed in the Saudi market reaches 204 companies, without counting real estate traded funds, which number 17 companies.
