Riyadh Cables to debut on Tadawul on Dec. 19

Logo of Riyadh Cables Group Co. 

Shares of Riyadh Cables Group Co. will list and commence trading on the Saudi Exchange (Tadawul) on Dec. 19.

The stock will trade under the symbol 4142 and ISIN Code SA15LGLI0N19, Tadawul announced in a statement. The daily and static fluctuation limits will be ± 30% and ±10%, respectively, for the first three days of listing.

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.

Riyadh Cables offered 33 million shares in an initial public offering (IPO), representing 22% of the company's total capital of SAR 1.5 billion, according to data available with Argaam.

The retail subscription was 671.55% oversubscribed, with each retail investor receiving a minimum of eight shares. The remainder will be allocated on pro rata at 1.26% based on the demand of every subscriber to total shares.

The institutional offering was 71.8x covered, Argaam reported earlier.

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