Riyadh – Mubasher: The Saudi Exchange (Tadawul) announced that Jamjoom Pharmaceuticals Factory Company (Jamjoom Pharma) will float its shares on the main market under the symbol 4015 on Tuesday, 20 June.
In a bourse filing, Tadawul indicated that the stock will be trading at daily and static price fluctuation limits of +/- 30% and +/- 10%, respectively.
The fluctuation limits will be applied during the first three days of the listing, until 22 June. 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.
Last month, Jamjoom Pharma set the final price for its initial public offering (IPO) at SAR 60 per share, implying a market capitalisation of SAR 4.20 billion at listing.
The Capital Market Authority (CMA) greenlighted the company’s IPO to list 24 million shares, equivalent to 30% of the share capital, in December 2022.
