Perfumer Al Majed for Oud Company’s shares will list and start trading on the Saudi Main Market from 7 October.

The final price for its IPO has been set at SAR 94 ($25.05).

The stock will have daily and static price fluctuation limits of +/-30% and +/-10%, respectively, the Saudi Exchange (Tadawul) said in a statement.

The institutional book-building period ended on 29 August, which was oversubscribed 156.5 times.

In August, the company announced its intention to proceed with an IPO of 30% of its issued share capital.

BSF Capital has been appointed as the financial advisor, lead manager, bookrunner, and underwriter for the IPO.

(Writing by Bindu Rai, editing by Seban Scaria)
bindu.rai@lseg.com