Scientific & Medical Equipment closes 30% higher, 7 mln shares traded

Logo of Scientific & Medical Equipment House Co. (SMEH)

Shares of Scientific & Medical Equipment House Co. (SMEH) leapt 30% (SAR 15.60) today, Feb. 28, to close at SAR 67.60.

Nearly 7 million shares were traded, through 42,000 transactions, at a total value of SAR 456.8 million.

The daily price fluctuation limits of +/-30% and static price fluctuation limits of +/-10% will be applied during the first three days of the listing. 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.

SMEH started trading on the Saudi Exchange (Tadawul) today, under the Health Care sector, with the symbol 4014 and ISIN code SA15GGQ1UN19.

This will be the third listing on the main market in 2022, after Elm Co. and East Pipes Integrated Company for Industry.

SMEH offered six million shares, representing 30% of the company’s capital, at SAR 52 per share, of which 90% was allocated to institutional investors and 10% to retail investors.

The company allocated one share as a minimum per subscriber, while allocating the remaining shares on a pro rata basis at 0.6896%.