MC4 to debut on TASI on Oct. 29

Logo of Fourth Milling Co. (MC4) 

Fourth Milling Co. (MC4) begins trading on the Saudi Exchange (Tadawul) on Oct. 29 under the symbol 2286 and ISIN Code SA16502H3N15.

 

The stock will have daily and static price fluctuation limits of ±30% and ±10%, respectively, for the first three days of listing, Tadawul said in a statement.

 
 

Starting from the fourth trading day, the daily price fluctuation limit will revert to ±10%, and the static price fluctuation limit will be removed, Tadawul added.

 

Additionally, the Securities Depository Center Co. (Edaa) added the subscribed securities in MC4 to the center’s accounts for eligible shareholders today, Oct. 27.

 

According to data available to Argaam, MC4 had decided to offer 162 million shares, or 30% of its share capital, in an initial public offering (IPO) on the Main Market (TASI), at a nominal value of SAR 1 per share.

 

The company allocated 32.4 million shares to individuals at SAR 5.30 per share, though the book-building process.

 

The retail tranche was 3.94x covered, with a minimum allocation of 10 shares per individual.

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