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Shares of Saudi Arabian contractor Al Ashgal Al Moysra Co will list and start trading from today on the Nomu parallel market, according to a Tadawul disclosure.
The stock will trade under the symbol 9608, with +/- 30% daily price fluctuation limits and +/- 10% static price fluctuation limits.
The company floated a 20% stake or 480,000 shares to market in a public offering at a price per share of 50 Saudi Arabian riyals ($13.33)
Proceeds from the sale will go directly to the selling shareholders after some SAR 3.2 million are used to cover IPO-related expenses.
Yaqeen Capital served as the financial advisor and lead manager.
(Writing by Bindu Rai, editing by Brinda Darasha)