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SMASCO to commence trading on Tadawul this week

SMASCO to commence trading on Tadawul this week
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Riyadh – Mubasher: Saudi Manpower Solutions Company (SMASCO) will begin the listing and trading of its shares on the Main Market of the Saudi Exchange (Tadawul) on Wednesday, 12 June.

Tadawul stated that the stock will be trading at daily and static price fluctuation limits of +/- 30% and +/- 10%, respectively, according to a bourse disclosure.

The fluctuation limits will be applied during the first three days of the listing, until 14 June. As from the fourth trading day onwards, the daily price fluctuation limits will revert to +/- 10%, while the static price fluctuation limits will no longer apply.

SMASCO will float 120 million ordinary shares, representing 30% of its issued share capital, under the symbol 1834.

Last May, the company set the final price for its initial public offering (IPO) at SAR 7.50 per share after the Capital Market Authority (CMA) greenlighted the IPO on 13 March 2024.