The Clap
Saudi Tadawul announced that Riyadh Cables will be listed and traded in the main market on Monday, with the trading code (4142).
What
Tadawul indicated that the daily price fluctuation limits will be 30% up or down, with the application of fixed limits for the price fluctuation at 10% up or down.
Tadawul also added that these limits will be applied only in the first three days of listing.
However, starting from the fourth trading day, the daily fluctuation limits will be reset to 10% up or down, and the fixed fluctuation limits will be canceled.
So What
Riyadh Cables IPO was covered by 71.8 times while the individual category was covered by 671.5%.
Now What
Riyadh Cables offered 33 million shares for subscription, representing 22% of the company’s capital, 90% of which was allocated to participating entities and 10% to individuals.
Its final offering price has been set at SAR 43 per share.
