Rasan, TALCO to start trading on TASI tomorrow

Logos of Rasan Information Technology Co. and Al Taiseer Group Talco Industrial Co.

Rasan Information Technology Co. and Al Taiseer Group Talco Industrial Co. (TALCO) will start trading on the Main Market tomorrow, June 13.

Rasan will trade under the symbol 8313 and ISIN Code SA162GIK1SH5, while TALCO will trade under the symbol 4143 and ISIN Code SA162GLI0NH7.

For More IPOs

The two stocks will trade with daily price fluctuation of +/- 30% and +/- 10% static price fluctuation limits, Tadawul said in a statement.

According to data available with Argaam, Rasan floated 22.74 million shares, representing 30% of its capital post-offering (32.3% pre-offering), by offering 17.44 million shares of the selling shareholders’ shares and issuing 5.3 million new shares.

The retail offer was 12.8x covered. A minimum of three shares were allocated to each subscriber. Rump shares will be allocated on a pro rata basis of nearly 1.038%, depending on the demand size.

TALCO floated 12 million shares at SAR 43 each, representing 30% of the capital of SAR 400 million, divided into 40 million shares with a nominal value of SAR 10.

A minimum of one share was allocated to each subscriber. The retail offering was 17.4x covered, with a total demand of about SAR 900.12 million.

Rump shares were allocated on a pro rata basis, based on the demand size, with an average allocation factor of 2.5389%.