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Saudi oil giant Aramco's base oil supplier Luberef will debut on the Saudi Stock Exchange (Tadawul) this week.
The company will list and trade its shares on the main market on Wednesday, December 28, with the symbol 2223, Tadawul said.
Luberef will have a daily price fluctuation limit of 30% during the first three days of listing. The limit will be lowered to 10% from the fourth day onwards.
Last November, the base oil subsidiary obtained the approval for its IPO from the Capital Market Authority.
The company was looking to raise SAR 4.95 billion riyals ($1.32 billion). Shares on offer accounted for 30% of the capital that's owned by Jadwa Investment, a private equity firm.
(Writing by Cleofe Maceda; editing by Mily Chakrabarty)
