Today, Monday, the Saudi Tadawul market is witnessing the listing and start of trading the shares of Al-Nayifat Finance Company in the main market.
The daily price fluctuation limits will be 30%, up and down, during the first 3 days of listing.
The subscription of Nayifat shares was at 34 riyals per share, which means that the company was listed with a market value of 3.4 billion riyals, and the percentage of the offering constituted 35% of the company’s capital.
The period of subscription by individual investors began after the completion of the book building process for institutions on October 28, 2021, and the total value of institutional subscription reached 162 billion riyals, with a coverage rate that exceeded the target by 136 times.
Coverage was distributed to Saudi companies and includes listed companies, private companies, 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 investors Qualified foreigners and investors through swap agreements with a coverage ratio of 5 times, and government institutions twice.
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