Saudi news

List and commence trading of “Luberef” shares in the Saudi market today

Today, Wednesday, December 28, 2022, witnesses the listing and start of trading in the shares of Saudi Aramco for Base Oils “Luberef” in the main market, with the trading code 2223 and the international symbol SA15M1HH2NH5.

And “Tadawul Saudi Arabia” had previously stated that the daily price fluctuation limits for “Luberef” shares are 30%, up or down, with the application of fixed limits for price fluctuation at 10%, up or down.

She added that these limits will be applied to Luberef shares 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 for price fluctuation will be abolished.

Luberef completed the offering process for the individual category, allocating a minimum of 10 shares to each individual subscriber included in the subscription application.
The subscription of individuals in Luberef Company was covered by 230.1%, while the total value of individual applications amounted to 2.85 billion riyals.

The number of individual participants reached 524.8 thousand, while the number of shares offered to individuals amounted to 12.51 million shares, as the offering price was set at 99 riyals per share.

The process of building the book of orders for the segment of participating classes in the company’s shares was successfully completed, with a coverage rate of 29.5 times of the total offered shares.

It is noteworthy that “Luberef” was established in 1976, and it is currently owned by 70% of Saudi Aramco, and 30% of “Jadwa Investment”, which offers its entire share for subscription.

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