Group Five debuts on Nomu

The stock will have a ± 30 percent daily price fluctuation limit

  
Saudi men inspect a screen showing stock prices at ANB Bank in Riyadh, Saudi Arabia September 16, 2019. Image for illustrative purposes.

Saudi men inspect a screen showing stock prices at ANB Bank in Riyadh, Saudi Arabia September 16, 2019. Image for illustrative purposes.

REUTERS/Ahmed Yosri
RIYADH: Shares of Group Five Pipe Saudi will begin trading on the parallel market Nomu on Monday, Nov. 29.

The stock will have a ± 30 percent daily price fluctuation limit and ± 10 percent static price fluctuation limit.

On Sept. 29, the Capital Market Authority approved the company's request to list a 10 percent stake, or 2.8 million shares.

The company's initial price offering was successfully closed on Nov. 18 with the final offer price set at SR35 ($9.33) per share. The IPO was 1,208 percent oversubscribed by qualified investors.

Copyright: Arab News © 2021 All rights reserved. Provided by SyndiGate Media Inc. (Syndigate.info).

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.

More From Construction