The shares of Naqi Water Company began trading today in the main Saudi stock market, becoming the tenth listing in Tadawul during the current year.
According to Arabiya Net, during trading, the stock rose to 87.6 riyals, with gains of 18.6 riyals, or 26.9%, compared to the offering price.
The share of Naqi Water has been listed with the trading symbol 2282 and the international symbol SA15JH2H3L19, 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 said in a previous statement, that these limits will be applied only during the first three days of listing, and starting from the fourth trading day, the daily price fluctuation limits will be reset to 10%, up or down, and the fixed limits of price fluctuation will be abolished.
Naqi had offered 6 million shares, representing 30% of the company's capital, 90% of which were allocated to the participating parties and 10% to the individuals segment.
The institutional subscription was covered by 30.3 times of the total offered shares, and the final offer price was set at 69 riyals per share.
The number of individual participants in the subscription reached 231,266, with a coverage rate of 1352.98%, equivalent to about 13.5 times.
