Riyadh –  Middle East Pharmaceutical Industries Company (Avalon Pharma) will begin the listing of its shares on the Main Market of the Saudi Exchange (Tadawul) on Tuesday, 27 February.

Tadawul indicated that the stock will be trading at daily and static price fluctuation limits of +/- 30% and +/- 10%, respectively, according to a bourse filing.

The fluctuation limits will be applied during the first three days of the listing, until 29 February.

As from the fourth trading day onwards, the daily price fluctuation limits will revert to +/- 10%, while the static price fluctuation limits will no longer apply.

Under the symbol 4016, Avalon Pharma will float 6 million shares, equivalent to 30% of its issued share capital.

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