ADES soars 30% on debut amid active trading

Logo of ADES Holding Co.

ADES Holding Co. jumped 30% to SAR 17.54 on debut today, Oct. 11, SAR 4.04 above its listing price of SAR 13.50.  

ADES saw active trading on nearly 75 million shares through roughly 50,000 transactions, at a total of around SAR 1.31 billion.

The company started trading on the Saudi Exchange (Tadawul) today under the symbol 2382 and ISIN Code SA55SG6H5716.  Shares will trade with ±30% daily and ±10% static price fluctuation limits in the first three days. 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. 

The company offered 338.72 million shares, or 30% of its capital, at SAR 13.50 per share. Out of the offered shares, 90% were allocated to participating parties and 10% to retail investors.