Al Majdiah to debut on TASI on Sept. 10

Al Majdiah will debut on Main Market (TASI)

Dar Al Majed Real Estate Co. (Al Majdiah) will begin trading on the Main Market (TASI) on Sept. 10 under the symbol 4326 and ISIN Code SA16C0723J17.

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.

For More IPOs

In a separate statement on Tadawul, the Securities Depository Center Co. (Edaa) announced the addition of the subscribed securities of Al Majdiah to the accounts of eligible shareholders today, Sept. 9.

According to data available on Argaam, the company offered 90 million shares, representing 30% of its SAR 300 million capital, divided into 300 million shares at a par value of SAR 1 each.

The offering witnessed the participation of approximately 307,020 individual investors at the final offer price of SAR 14 per share.

Total demand from the retail tranche reached nearly SAR 701 million, resulting in a coverage ratio of 278%.