Riyadh – Mubasher: The Saudi Exchange (Tadawul) announced that trading and listing the shares of Saudi Tadawul Group Holding Company will start on Wednesday, 8 December.

The daily and static price fluctuation limits have been set at +/- 10% and +/- 30%, respectively. The fluctuation limits will be applied during the first three sessions of listing, while starting the fourth trading day onwards, the daily limit will revert to +/- 10% and the static will no longer apply.

Tadawul’s statement followed the announcement of setting the final initial public offering (IPO) price of Saudi Tadawul Group at SAR 105 per share. This has implied a market cap worth SAR 12.6 billion on the listing date.

The individual subscription offering process for the IPO comprised 10.8 million shares, representing 30% of the total offer shares.  A total of 598,327 individual investors have subscribed for the offering, which was 442.53% oversubscribed with a total demand of SAR 5.02 billion.

The total individual investors offering size stood at SAR 3.78 billion, comprising 36 million shares.

Saudi Tadawul Group appointed SNB Capital Company, Citigroup Saudi Arabia, and JP Morgan Saudi Arabia Company to be the IPO’s financial advisors, joint global coordinators, underwriters, and bookrunners.

SNB Capital was also appointed to act as lead manager for the offering.

Last month, Tadawul announced the price range for the IPO between SAR 95 and SAR 105 per share. This followed the Capital Market Authority’s (CMA) approval in the same month for the IPO.