Tamkeen to make debut on TASI on Nov. 27

Logo of Tamkeen Human Resources Co.

 Tamkeen Human Resources Co. will start trading on the Main Market (TASI) tomorrow, Nov. 27, under the symbol 1835 and ISIN Code SA165GP0SLH5.

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

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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.

On the other hand, the Securities Depository Center Co. (Edaa) deposited today, Nov. 26, the subscribed shares of Tamkeen into shareholder accounts.

Tamkeen offered 7.95 million shares, or 30% of its capital. The company allocated 80% of the shares on offer to participating categories, while the remaining 20% were set aside for retail investors.

The offering was almost 14.43x covered, and the company allocated a minimum of four shares per retail subscriber. Rump shares were distributed on a pro rata basis of 0.159%.

Institutional investors placed SAR 55 billion orders and the order book was nearly 138.2x oversubscribed.