Tadawul: Al-Dawaa up 8% to SAR 78.60 amid 23.7 mln shares traded

Logo of Al-Dawaa Medical Services Co.

Al-Dawaa Medical Services Co.’s (DMSCO) stock closed 8% higher at SAR 78.60 on the Saudi Exchange (Tadawul) during its first trading session today, March 14, an increase of SAR 5.60 per share from its debut price.

The stock witnessed active trading of about 23.7 million shares worth SAR 1.93 billion through nearly 109,500 transactions.

Shares of DMSCO started trading today, March 14, with the symbol 4163 and ISIN Code SA15H14I11H6.

The company offered 25.5 million shares, representing 30% of its capital, of which 90% was allocated to participating parties and 10% to retail investors, according to data compiled by Argaam.

The retail offering was 2,515% oversubscribed, where each retail investor received a minimum of two shares, while the remaining shares were allocated on a pro-rata basis, based on the demand size of every subscriber to total shares with an allocation factor of 0.5299%.