March 29, 2023

Dubai Week

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Start listing and trading solutions by stc .. and the stock rises 30%

Start listing and trading solutions by stc .. and the stock rises 30%

Shares of the Arab Internet and Communications Services Company (Solutions) began trading on the main market of Saudi Arabia today, Thursday, with a maximum percentage increase of 30%.

After adding 45.2 riyals, the share price reached 196.2 riyals.

11:45 As per KSA, the number of transactions made in the stock reached 11.6 thousand, the trading volume of 371 thousand shares, the total value was 73 million riyals.

Has been traded St “Solutions by stc” With code 7202 and international code SA15CIBJGH12, daily price fluctuation limits are +/- 30%, using standard limits for price fluctuations +/- 10%.

Tadaul said the limits would be applicable only for the first three days of the listing and from the fourth trading day onwards the daily price fluctuations would be reset to – / + 10% and the fixed price fluctuations would be revoked.

The Arab company issued 24 million shares for Internet and communication services, 20% of its capital, 90% to companies and 10% to private investors.

On Monday evening, the company announced the successful completion of the personal subscription process in its public offering, with the personal subscriber segment seeing the participation of approximately 1.04 million individuals, surpassing the target of 2365%, and requests valued at 8.6 billion riyals.

At least two shares are allocated to each individual subscriber included in the subscription application, while the remaining shares are allocated to the total remaining shares to be allocated based on the size of each subscriber’s request. The allocation rate averaged 0.5776%.