RIYADH: Almunajem Foods Co. was Saudi bourse’s biggest gainer in early trading on Dec. 20, surging more than 9 percent to SR65.5 ($14.45) on its first day trading on the main market, TASI.
Priced at SR60 per share and oversubscribed by 12 times, the company’s stock opened higher at SR66, 10 percent higher than the previously set price in its initial public offering.
The stock fluctuated between an intraday high of SR66 and an intraday low of SR63, with over 3.5 million shares traded in early morning.