Tamkeen debuts on TASI today as 12th listing in 2024

Logo of Tamkeen Human Resources Co.

Tamkeen Human Resources Co. will begin trading on the Main Market (TASI) today, Nov. 27, under the symbol 1835 and ISIN Code SA165GP0SLH5, at SAR 50 a share.

The stock will trade in the first three days with a daily price fluctuation limit of +/-30% and +/-10% static price fluctuation limits. From the fourth trading day onwards, the daily price fluctuation limits will revert to +/-10%, while the static price fluctuation limits will no longer apply.

For More IPOs

This is the 12th listing on TASI in 2024, in addition to  Alistithmar AREIC Diversified REIT Fund.

Last year, TASI listed seven companies, including Al Mawarid Manpower Co., Jamjoom Pharmaceuticals Factory Co. (Jamjoom Pharma), Morabaha Marina Financing Co. (MRNA), First Milling Co., Lumi Rental Co., ADES Holding Co., and SAL Saudi Logistics Services Co., besides the listing of Alinma Hospitality REIT Fund.

With Tamkeen, the number of companies listed on TASI reached 225, excluding 19 real estate traded funds.

Tamkeen offered 7.95 million shares, or 30% of its capital, at SAR 50/ share. The company allocated 80% of the shares on offer to participating parties, while the remaining 20% was set aside for retail investors.

The retail offering was almost 14.43x covered, with a total order value of SAR 1.15 billion, while participating parties were 138.2X covered.

The company allocated a minimum of four shares per retail subscriber. Rump shares were distributed on a pro rata basis of 0.159%.

Company Profile

Established in 2018, Tamkeen is a closed joint stock company based in Riyadh.

Tamkeen specializes in workforce solutions in the Kingdom, providing a range of customized recruitment services to corporate and individual clients locally. It offers services to the corporate and individual segments, catering to their hourly and contractual needs.

The company operates through a network of 17 branches in Saudi Arabia and an online platform, backed by a diversified group of more than 14,000 workers. In addition, Tamkeen has 270 employees.