TALCO shares to begin trading on TASI today

Logo of Al Taiseer Group Talco Industrial Co. (TALCO)

Al Taiseer Group Talco Industrial Co. (TALCO) will begin trading on the Saudi Exchange (Tadawul) today, June 13, with the symbol 4143 and ISIN Code: SA162GLI0NH7, at SAR 43/share.

The stock will trade with ±30% daily and ±10% static price fluctuation limits in the first three days, Tadawul said in a statement.

For More IPOs

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.

With the listing of Rasan Information Technology Co. and TALCO today, the number of listings on TASI rose to eight since the start of 2024.

TASI listed seven companies last year, including, Al Mawarid Manpower Co., Jamjoom Pharmaceuticals Factory Co. (Jamjoom Pharma), Morabaha Marina Financing Co. (MRNA), First Milling Co., Lumi Rental Co., ADES Holding Co., and SAL Saudi Logistics Services Co., in addition to Alinma Hospitality REIT Fund.

Rasan and TALCO will bring the total number of Tadawul-listed companies to 221, excluding 18 REITs.

The company offered 12 million shares, or 30% of its capital, at SAR 43 per share. 90% of offered shares were allocated to participating parties, while the remaining 10% were allocated to retail investors.

The retail coverage reached 17.4x, while the tranche of participating parties was 68.5x subscribed.

Each retail investor received a minimum of one share, while the remaining shares will be allocated pro rata, based on the demand size of every subscriber to total shares. The allotment ratio amounted to 2.5389%. 

Company Profile 

TALCO was established in 1976 and is located in Riyadh. It converted into a closed joint stock company in 2009.

The company's current activities are represented in the following segments: Aluminum, powder-coated products, accessories products, their manufacturing and marketing.