Shares of Miahona Company, a developer & operator of sustainable solutions in water and wastewater projects, rose 30% on the Saudi main market (TASI) after listing on Thursday.

The share price rose to 14.94 Saudi riyals ($3.98), with almost 107,700 shares, worth SAR 1.4 million, traded within 15 minutes after open, according to LSEG data. The listing price was SAR 11.50

The shares currently have daily and static price fluctuation limits of +/-30% and +/-10%, respectively.

Miahona floated 30% of its issued share capital by offering 48,277,663 ordinary shares currently held by Vision Invest, a Saudi investment holding company that invests in public-private partnerships.       

(Editing by Brinda Darasha; brinda.darasha@lseg.com)