AI Summary
Logo of Dar Al Majed Real Estate Co. (Al Majdiah)
Shares of Dar Al Majed Real Estate Co. (Al Majdiah) fell by around 6% to SAR 11.98 in their third session on the main market (TASI).
During today’s session, the stock is trading between SAR 11.70 and SAR 12.84.
Nearly 9.08 million shares have been traded so far, at SAR 109.42 million, across 14,260 transactions.
The company’s shares were listed and began trading on Sept. 9, under symbol 4326 and ISINCode SA16C0723J17, at SAR 14 each.
The daily price and static fluctuation limits are +/-30% and +/-10%, respectively, which apply only during the first three days of trading.
From the fourth day onward, the daily fluctuation limit will reset to +/-10%, and the static limits will no longer apply.
The company had floated 90 million shares, representing 30% of its SAR 300 million capital, divided into 300 million shares, with a nominal value of SAR 1 apiece.
A minimum of 10 shares was allocated to each investor in the retail tranche.
Rump shares were allocated on a pro rata basis, based on the size of each investor’s request proportional to total rump shares, at an average allocation factor of 31.8%.
The institutional offering was 107 times oversubscribed.
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