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Riyadh Cables Group Company, which recently raised $378 million from an initial public offering (IPO), is set to make its debut on the Saudi Stock Exchange (Tadawul).
The maker of power and telecom cables will begin trading its shares on Monday on the Saudi bourse’s main market under the symbol 4142, with a 30% daily price fluctuation limit for the first three days.
From the fourth trading day onwards, the company’s daily price fluctuation limit will revert to 10%, according to a disclosure on Tadawul.
Riyadh Cables’ share capital is pegged at SAR 1.5 billion ($399 million).
(Reporting by Cleofe Maceda; editing by Anoop Menon)
