CGS shares to make TASI debut on Dec. 9

CGS floated 30 million shares, or 30% of the company's capital

Shares of Consolidated Grünenfelder Saady Holding Co. (CGS) will start trading on the Main Market (TASI) on Dec. 9, with the symbol 4147 and ISIN Code SA16DG520PH3, the Saudi Exchange (Tadawul) announced today, Dec. 7.

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 CGS subscribed securities today, in the accounts of eligible shareholders.

According to Argaam data, CGS floated 30 million shares, or 30% of the company's capital reaching SAR 100 million, divided into 100 million shares, at a par value of SAR 1 each.

The retail offering ended on Nov. 27, with a coverage ratio of 70.9%. A total of 6 million shares were offered to retail investors, at SAR 10 each.