Saudi Tadawul Group opens almost 10 pct above listing price in Riyadh market debut
Shares in Saudi Tadawul Group, the owner and operator of the Kingdom’s bourse, opened almost 10 percent above its listing price in its Riyadh market debut on Wednesday.
The bourse’s shares were priced at the top of the range last week, at 105 riyals ($27.99) per share. They opened at 115.4 riyals on Wednesday.
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Saudi Tadawul Group raised 3.78 billion riyals ($1.01 billion) via an initial public offering (IPO) that was 121 times oversubscribed.
Read more: Saudi bourse operator Tadawul prices IPO at top of range, raises $1.01 bln
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