With the beginning of the listing and trading of the shares of the Arab Company for Internet and Communications Services today, Thursday, in the main market, the company's share rose by the maximum percentage of 30%.
According to Arabia Net, the share price reached 196.2 riyals, after adding 45.2 riyals.
As of 11:45 KSA, the number of transactions executed on the stock reached 11.6 thousand, with a trading volume of 371 thousand shares, with a total value of 73 million riyals.
The solutions by stc stock was traded with the code 7202 and the international code SA15CIBJGH12, with daily price fluctuation limits +/-30%, with the application of fixed limits for price fluctuations 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 Company for Internet and Communications Services 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 public offering, explaining that the segment of individual subscribers witnessed the participation of about 1.04 million individuals, with coverage exceeding the target by 2365%, and requests worth 8.6 billion riyals.
A minimum of two shares were 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 volume of each subscriber's request to the total remaining shares required to be subscribed, with an allocation ratio of 0.5776% on average.
