The shares of Time Entertainment Company will start trading on the Nomu-Parallel Market from June 17, the Saudi Exchange said in a statement.

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

Time Entertainment floated 200,000 shares, representing 20% of the company’s share capital. The final IPO price was set at SAR 80, with the offering 141.41% oversubscribed.

The Riyadh-based Time Entertainment was established in 2012 and has organised numerous events, including the World Economic Forum, Diriyah Season Opening Ceremony, ROSHN Saudi League Closing Ceremony, among others.

(Editing by Seban Scaria seban.scaria@lseg.com)