RIYADH: Shares of Group Five Pipe Saudi will begin trading on the parallel market Nomu on Monday, Nov. 29.

The stock will have a ± 30 percent daily price fluctuation limit and ± 10 percent static price fluctuation limit.

On Sept. 29, the Capital Market Authority approved the company's request to list a 10 percent stake, or 2.8 million shares.

The company's initial price offering was successfully closed on Nov. 18 with the final offer price set at SR35 ($9.33) per share. The IPO was 1,208 percent oversubscribed by qualified investors.

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