Tomorrow, the shares of Nayifat Finance begin trading in the Saudi market

Tomorrow, Monday, the Saudi Tadawul market will witness the listing and start of trading of the shares of the Al-Nayifat Finance Company in the main market.

The daily price fluctuation limits will be 30%, in increase e in decrease, during the first 3 days of listing.

The subscription of Nayifat shares was 34 riyals per share, which means the company has a market value of 3.4 billion riyals.

The offer constituted 35% of the company’s capital.

The subscription period by individual investors began after the completion of the book process building for institutions on October 28, 2021 and the total value of institutional subscriptions reached 162 billion riyals, with a coverage rate that exceeded the target by 136 times.

Coverage has been distributed to Saudi companies and includes listed companies, corporations private, insurance companies and financial market institutions with a coverage rate of 92 times, public funds, private funds and funds managed by financial market institutions with a coverage rate of 37 times, and non-Saudi investors, including investors in the Gulf Cooperation Council countries and Qualified Foreign Investors and Investors through swap agreements with a coverage ratio of 5 times and government institutions twice.

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