Theeb Rent a Car sees heavy trading on 29 mln shares worth SAR 1.7 bln

Logo of Theeb Rent a Car

Theeb Rent a Car Co., a newly listed company under the transportation sector in the Saudi Stock Exchange (Tadawul), is witnessing heavy trading during today's session with over 29 million shares, valued at nearly SAR 1.73 billion through 88,400 deals.

The company floated 12.90 million shares in an IPO, representing 30% of its capital, at a price of SAR 40 per share, of which 90% was allocated to institutional investors and 10% to retail investors.

The stock is closed at SAR 59.30, with a 14% increase.

On March 29, 2021, Tadawul announced that the listing and trading of Theeb shares, with the symbol 4261 in the transportation sector, with ±30% daily price fluctuation limits and ±10% static price fluctuation limits.

The above fluctuation limits are applied during the first three days of listing, and the daily price fluctuation limits will revert to ±10% from the fourth trading day onwards, with the static price fluctuation limits no longer applying.

Theeb Rent a Car was established in September 2010 as a closed joint-stock company in Riyadh. Its current capital is SAR 430 million.

The company started its activities as part of the operational activities of Theeb Establishment for Contracting, owned by Hamoud Abdullah Al-Theeb, in 1991.

The following table shows the most important financial indicators of the company:

*As per data available during the first nine months of 2020.