Tadawul: East Pipes Integrated up 6% at SAR 85 amid 7.6 mln shares traded

Logo of East Pipes Integrated Co. for Industry

East Pipes Integrated Company for Industry’s stock rose to SAR 85 on the Saudi Exchange (Tadawul) during its first trading session, an increase of SAR 5 per share from stock debut price.

The stock witnessed active trading of about 7.6 million shares through over 34,000 transactions, at a value of SAR 658 million.

The stock traded during today’s session at about SAR 84.40 to SAR 90.20.

Shares of East Pipes Integrated started trading on Tadawul today, Feb. 14, with the symbol 1321 and ISIN Code SA15GH80KKH0.

The stock will have +/-30% daily price fluctuation limits and +/-10% static price fluctuation limits. These fluctuation limits will be applied during the first three days of listing, and from the fourth trading day onwards, the daily price fluctuation limits will revert to +/-10% and the static price fluctuation limits will no longer apply.

The company floated 6.3 million shares, of which 630,000 shares were allocated for retail investors. The retail offering was 16 times covered, and a minimum of three shares were allocated for each retail subscriber.