Saudi news

The trading of shares of “Al-Saif Gallery” will start on the main Saudi market next Tuesday

The “Saudi Tadawul” group announced today, Sunday, that the shares of Al-Saif Matajer for Development and Investment Company “Al-Saif Gallery” will be listed and started trading in the main market, as of Tuesday, December 27, 2022, with the trading code 4192 and the international symbol SA15M1PI1G19.

The Saudi Tadawul said in a statement that the daily price fluctuation limits on the shares of Al-Saif Gallery stores will be 30%, up or down, with the application of fixed limits for price fluctuation at 10%, up or down.

Read more: 269% coverage by individuals for the “Al-Saif Gallery” subscription, and the allocation of 10 shares for each subscriber

She added that these limits will be applied to the shares of Al-Saif Gallery stores only during the first three days of listing, and starting from the fourth day of trading, the daily price fluctuation limits will be reset to 10% up or down, and the fixed limits of price fluctuation will be abolished.

The Al-Saif Stores Company for Development and Investment “Al-Saif Gallery” had announced the successful completion of the final allocation process for the shares offered for subscription in the initial public offering, after the completion of the process of building the book of orders for corporate and institutional investors.

The company stated in a previous statement that the subscription period for individual investors took place on December 5 and 6, 2022, and witnessed the subscription of 88,439 Saudi individual investors, foreign residents in the Kingdom, and citizens of the Gulf Cooperation Council countries, at a value of 325.2 million riyals, at the public offering price of 115 riyals per share.

The company indicated that the percentage of coverage of the offered shares for the individual subscribers has reached 269%.

The total volume of the offering amounted to 1.207 billion riyals, after selling 30% of the total issued shares, 35 million shares, through the sale of the offering shares by the current shareholders of the company.

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