Elm to start trading on Tadawul on Feb. 16

Logo of Elm Co.

Shares of Elm Co. will begin trading on the Saudi Exchange (Tadawul) as of Wednesday, Feb. 16, with the symbol 7203 and ISIN Code SA15GG53GHH3.
 

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 Securities Depository Center Co. (Edaa) deposited today, Feb. 10, the company’s subscribed securities into the center’s accounts of eligible securities’ holders.

The company floated 24 million shares, of which 7.2 million shares were allocated for retail investors. The retail offering was 1311.6% covered and a minimum of six shares were allocated for each retail subscriber.