Saudi “Tadawul” announced the start of listing and trading of shares of “Arabian Internet and Communications Services Company (Solutions)” in the main market, starting tomorrow, Thursday 23/02/1443 AH corresponding to 30/09 / 2021AD.
The “solutions by stc” security will be traded under the code 7202 and the international code SA15CIBJGH12, provided that the daily price fluctuation limits are +/- 30%, with the application of fixed price fluctuation limits of + / -10%.
Tadawul specified that these limits will be applied only during the first three trading days and, starting from the fourth trading day, the daily price volatility limits will be brought back to – / + 10% and the volatility limits of the fixed price.
The Arab Company for Internet and Communications Services offered 24 million shares, representing 20% of its capital, of which 90% destined for institutions and 10% for individual investors.
On Monday evening, the company announced that it had successfully concluded the individual underwriting process in its public offering, explaining that the segment of individual underwriters saw the participation of approximately 1.04 million individuals, with coverage that exceeded the target. of about 2365%, and requests worth 8.6 billion riyals.
A minimum of two shares have been assigned to each individual subscriber who is the subject of the subscription request, while the remaining shares will be assigned pro-rata. in based on the volume of each subscriber’s request to the total of the remaining shares to be subscribed, with an allocation ratio of 0.5776% in media.
Read More About: Business News