AMAK shares to debut on Tadawul on March 29

Al Masane Al Kobra Mining Co.’s (AMAK)

The Saudi Exchange (Tadawul) announced that shares of SAl Masane Al Kobra Mining Co. (AMAK) will debut on the main market as of Tuesday, March 29, with the symbol 1322 and ISIN Code: SA15HG50KL10.
 

The stock will have +/- 30% daily price fluctuation limits and +/- 10% static price fluctuation limits.
 

In a separate statement, the Securities Depository Center Co. (Edaa) deposited today, March 27, the subscribed shares of AMAK to the accounts of eligible shareholders.

On March 9, retail investors started subscription to about 5.94 million shares of AMAK, representing 30% of the shares offered, at SAR 63 each, as set by the book-building process, according to data available with Argaam.
 

A minimum of four shares were allocated to each subscriber, while the remaining shares were allocated on a pro-rata basis, with an allocation rate of 0.766% on a proportional basis.
 

The company offered 19.8 million shares, or 30% of its SAR 660 million capital, for retail investors, and 70% for institutions.

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