Tadawul Saudi Arabia announced today, Monday, that the listing and trading of shares of Saudi Aramco for base oils Luprev will begin in the main market, as of next Wednesday, corresponding to December 28, 2022.
Tadawul said, in a statement on its official website, that Luprev’s share will be traded in the main market with the symbol (2223) and the international symbol (SA15M1HH2NH5), provided that the daily price fluctuation limits are +/- 30%, with the application of fixed limits for price fluctuation at +/- 10%. .
She explained that these limits will only be applied 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%, and the fixed limits for price fluctuation will be abolished.
Luberef is a Saudi joint stock company registered in the Commercial Register No. (4030010447) on August 29, 1976 in Jeddah, and it was converted to a joint stock company according to Ministry of Commerce Resolution No. (117) on August 18, 2022.
50.045 million ordinary shares of Luprev shares were offered, representing about 29.66% of the company's capital, at an offering price of 99 riyals per share.
The current capital of Luprev is 1.688 billion riyals, divided into 168.75 million ordinary shares, with a nominal value of 10 riyals per share, paid in full.
The company has two shareholders, the Saudi Arabian Oil Company (Saudi Aramco), which owns 70% of the capital of Luberef, and Jadwa Industrial Investment Company, which owns 30% of the capital. The two companies are referred to as the current shareholders.
Luberef's main activity is the manufacture of refined petroleum products, the manufacture of plastics and synthetic rubber in their primary forms, the manufacture of other unclassified chemical products, and the wholesale of solid, liquid and gaseous fuels and related products.
