Saudi stock exchange to triple daily trading limits for new listings

Saudi stock exchange to triple daily trading limits for new listings

In an announcement regarding the enhancements to the requirements governing negotiated deals and the fluctuation limits mechanism on the main market and Nomu-Parallel Market, Saudi Arabia's stock market Tadawul said it will triple the daily trading limits for companies making their debut from November 8.The enhancements to the fluctuation limits will be applied only on the first three days of trading newly listed security in the main market and on an ongoing basis for all listed securities in Nomu-Parallel Market.Starting Nov. 8, newly listed stocks, will be allowed to rise or fall 30 percent on their first three days of trading, up from the current 10 percent limit. The daily limits will revert to 10 percent from the fourth day, Tadawul said in a statement.For the Nomu-Parallel Market, the changes