The listing and trading of Electrical Industries’ shares starts today

The listing and trading of Electrical Industries Company’s shares commences today in Saudi Stock Exchange Market under the building & construction sector with a fluctuation limit of 10% for the first day.
 

This is the sixth listing in the Saudi Market this year after the listing of NCB, Al Hammadi development and investment, Farm Superstores, Umm Al Qura Cement and Al Hokair Group.

Saudi listed companies’ number reached 169 companies after this listing including the suspended companies while the building & construction sector includes 17 companies.

According to Argaam; Electrical Industries Co. sold 13.5m shares or 30% of the company in an initial public offering from November 11 to 17 at SAR 54 per share. 3 shares were allotted to each investor and could be increased with the number of requests and the IPO was 523% covered.

This listing is the fourth in the building & construction sector within 4 years after the listing of Bawan in 2013, Aslak in 2011 and Al Khodari in 2010.