‎Luberef shares to start trading on Tadawul on Dec. 28

‎Luberef shares to start trading on Tadawul on Dec. 28

Saudi Aramco Base Oil Co. (Luberef) will begin trading on the Saudi Exchange (Tadawul), on Dec. 28, with the symbol 2223 and ISIN Code SA15M1HH2NH5.

In a statement to Tadawul, the company stated that shares will trade with +/- 30% daily price fluctuation limits and +/- 10% static price fluctuation limits.

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.

Meanwhile, in a statement on Tadawul, the Securities Depository Center Co. (Edaa) announced the addition of the subscribed securities in Luberef today, Dec. 26, into the accounts of eligible securities’ holders.

The company offered 50.045 million shares, representing 29.66% of its capital, of which 75% was allocated to participating parties and 25% to retail investors, Argaam earlier reported.

Retail investors fully subscribed to 12.511 million shares at SAR 99 each.

Luberef’s institutional offering, which was completed last week, was 29.5x covered.

Retail offering was 230.1% covered. The number of retail subscribers reached 524,800, while total orders were valued at about SAR 2.85 billion.

A minimum of 10 shares were allocated per retail subscriber. The remaining shares will be allocated on a pro-rata basis, based on the demand size of every subscriber