Saudi Arabia-Based Nayifat Finance to Begin Trading on the Saudi Stock Exchange

Saudi Arabia-based Islamic finance company Nayifat Finance is to begin listing and trading its shares on the main market of the Saudi stock exchange on Monday, the 22nd of November 2021.

Why it Matters?

The company recently completed the book-building process for its initial public offering (IPO), which was 136x oversubscribed. The final offer price was at SAR 34 (USD 9) per share. The company had previously stated its intention of selling 35 million of its shares to institutional and private investors.

Details

The company is to trade under the symbol ISIN code SA15DGH1VOH4, with a 30% daily fluctuation limit and a 10% static price fluctuation limit, the Saudi Stock Exchange (Tadawul) announced on the 21st of Novembe...