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Half-owned by the Kingdom’s Public Investment Fund, the company is selling 81.2 million shares at SR56 each or an 11.1 percent stake. The institutional tranche, which makes up 90 percent of the IPO, was 248 times oversubscribed, attracting SR1.127 trillion.
The stock will have plus/minus 30 percent daily price fluctuation limits and plus/minus 10 percent static price fluctuation limits, according to a statement on the Saudi Stock Market (Tadawul).
These fluctuation limits will be applied during the first three days of listing, and from the fourth trading day onwards, the daily price fluctuation limits will revert to plus/minus 10 percent and the static price fluctuation limits will no longer apply.
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