Sahat Almajd set for Nomu debut on Nov. 5

Logo of Sahat Almajd Trading Co.

Shares of Sahat Almajd Trading Co. will begin trading on the Nomu-Parallel Market on Nov. 5, under the symbol 9650 and ISIN Code SA16D03KMP19.

 

The stock will trade with daily and static price fluctuation limits of ±30% and ±10%, respectively, the Saudi Exchange (Tadawul) said today, Nov. 3.

 

Separately, the Securities Depository Center Co. (Edaa) said Sahat Almajd’s subscribed securities were deposited today into the accounts of eligible shareholders.

 

According to data available with Argaam, the company floated 2.38 million shares on Nomu, at SAR 7 per share, in an initial public offering (IPO) that ran from Oct. 19-23.

 

The offered shares represented 12.5% of the company’s pre-IPO capital and 11.11% of post-IPO capital.

 

The offering was 110.39% oversubscribed.

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