Nayifat to begin trading on Saudi's Tadawul on November 22

The stock will have +/- 30 percent daily price fluctuation limits and +/- 10 percent static price fluctuation limits

  
A man checks his mobile phone next to a screen with Saudi Stock Exchange (Tadawul) prices in Riyadh, Saudi Arabia September 16, 2019. REUTERS/Stringer

A man checks his mobile phone next to a screen with Saudi Stock Exchange (Tadawul) prices in Riyadh, Saudi Arabia September 16, 2019. REUTERS/Stringer

RIYADH: Nayifat Finance Co. (NFC) will begin trading on the Saudi Exchange (Tadawul) as of Monday, Nov. 22, according to a bourse filing on Thursday.

The stock will have +/- 30 percent daily price fluctuation limits and +/- 10 percent static price fluctuation limits, the company said on 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 +/- 10 percent and the static price fluctuation limits will no longer apply.

Retail investors started, on Nov. 7, subscription to 3.5 million shares of NFC, at SR34 ($9) a share.

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