After evoking a huge interest in investors, shares of Tadawul group will begin trading on the main market on Wednesday, Dec. 8.
The individual subscribers tranche of Tadawul’s initial public offering was 442.53 percent oversubscribed with a total demand of SR5.02 billion ($1.3 billion).
The stock will have a ± 30 percent daily price fluctuation limit and ± 10 percent static price fluctuation limit, according to the company’s filing.
The stock exchange group was offering 10.8 million shares to individual investors, or 30 percent of the total offer shares at a final price of SR105.
Around 598,327 subscribers participated in the period, which started on Nov. 30.