‎AMAK debuts on Tadawul today; sixth listing in 2022

‎AMAK debuts on Tadawul today; sixth listing in 2022

Shares of Al Masane Al Kobra Mining Co. (AMAK) will begin trading on the Saudi Exchange (Tadawul) today, March 29, under the “Materials” industry group, with the symbol 1322 and ISIN Code SA15HG50KL10.

The daily price fluctuation limits of ±30% and static price fluctuation limits of ±10% will be applied during the first three days of the listing.

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.

This will be the sixth listing on the main market in 2022, after Elm Co., East Pipes Integrated Company for Industry, and Scientific & Medical Equipment House Co. in February, as well as Al-Dawaa Medical Services Co. and Nahdi Medical Co. in March.

Last year witnessed nine listings, including Alkhorayef Water and Power Technologies Co. on March 1, Theeb Rent a Car Co. (March 29), Tanmiah Food Co. (Aug. 4), solutions (Sept. 30), ACWA Power (Oct. 11), Arabian Contracting Services Co. (Nov. 15), Nayifat Finance Co. (Nov. 22), Saudi Tadawul Group (Dec. 8), and Almunajem Foods Co. (Dec. 20).

The company's listing will bring the total number of Tadawul-listed companies to 198, excluding 17 REITs.

The Saudi mining firm offered 19.8 million shares,