ADES Holding starts trading on Tadawul on Oct. 11

Logo of ADES International Holding Co.

The Saudi Exchange (Tadawul) stated that shares of  ADES International Holding Co. will be listed and start trading on the Main Market, with the symbol 2382 and ISIN Code SA55SG6H5716, as of Oct. 11.

The stock will trade with a daily price fluctuation of +/- 30% and +/- 10% static price fluctuation limits.

This will be applied only during the first three days of listing, and starting from the fourth trading day, the daily price fluctuation will be reset to -/+ 10%, and the static limits will be cancelled.

In a separate statement, the Securities Depository Center Co. (Edaa) announced the deposit of subscribed securities in ADES Holding to the accounts of eligible securities’ holders, today, Oct. 9. 

According to data available with Argaam, the company floated 338.72 million shares, representing 30% of capital, of which 90% was allocated for participating categories and the remaining 10% for individuals. 

The order booking process was successfully completed with a 62.7 time total coverage, at a total value of orders from institutions reaching approximately SAR 286.9 billion, while individual subscription coverage reached 983.8%, with 10 shares were allocated to each subscriber.

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