Alramz shares to make TASI debut on Dec. 18

Alramz offered 30% shares on TASI representing 30% of its post-IPO capital

Shares of Alramz Real Estate Co.’s will start trading on the Main Market (TASI) on Dec. 18, with the symbol 4327and ISIN code SA16E1323JH6, the Saudi Exchange (Tadawul) announced today, Dec. 16.

The stock will trade in the first three days with daily and static price fluctuation limits of ±30% and ±10%, respectively. From the fourth trading day onwards, the daily price fluctuation limits will revert to ±10%, while the static price limits will no longer apply.

The Securities Depository Center Co. (Edaa) deposited Alramz subscribed securities today, in the accounts of eligible shareholders.

According to Argaam data, Alramz offered 30% of its shares on TASI, through the issuance of 12.86 million new shares, representing 30% of the company’s post-IPO capital.

The institutional offering was 11.1x covered, while the retail IPO was 36% subscribed from a total of 2.57 million shares offered to retail investors (20% of the offered shares). Accordingly, all shares subscribed by individual investors have been fully allocated, and no surplus resulted.