SAL Logistics to debut on Tadawul on Nov. 1

Logo of SAL Saudi Logistics Services Co.

The Saudi Exchange (Tadawul) announced that SAL Saudi Logistics Services Co. will start trading on Nov. 1, with the symbol 4263 and ISIN Code SA15T1L22JH8.

The stock will have daily and static price fluctuation limits of ±30% and ±10%, respectively.

These limits will apply during the first three days of listing. From the fourth trading day, the daily price fluctuation limits will revert to ±10% and the static price fluctuation limits will no longer apply.

In a separate statement, the Securities Depository Center Co. (Edaa) said it deposited today, Oct. 30, the subscribed shares of SAL Logistics into the accounts of eligible shareholders.

The company offered 24 million shares, or 30% of its capital. It allocated 90% of these shares to participating entities, while the remaining 10% were allocated to retail investors, Argaam earlier reported.

SAL Logistics retail offering was 16.1x covered, as 833,500 subscribers bought shares. A minimum of two shares were allocated per subscriber.

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