Riyadh June 18 2023: Jamjoom Pharmaceuticals Factory Co. (Jamjoom Pharma) will start trading on the Saudi Exchange (Tadawul) on June 20, under the symbol 4015 and ISIN Code SA15QGU1UNH6.
In a statement to Tadawul today, June 18, the company said the daily fluctuation limit is ±30% and static price fluctuation limit is ±10%.
These fluctuation limits will be applied during the first three days of listing, and from the fourth trading day onwards, the daily price fluctuation limits will revert to +/- 10% and the static price fluctuation limits will no longer apply.
Jamjoom Pharma floated 21 million shares, or 30% of its capital, at SAR 60 each, as reported earlier by Argaam.
The retail offering was 11x covered, with a minimum of four shares allocated per retail subscriber. The remaining shares will be allocated on a pro-rata basis at 0.5146%, based on the demand size of every subscriber to total shares.
Meanwhile, institutional subscription was 67.2x covered.