Northern Region Cement became the 13th cement company to list on the Saudi stock exchange on Tuesday and its shares enjoyed a healthy rise following its market debut.
The company, which is based in the northern city of Arar, listed over half of its shares at SR: 10 ($2.67) per share. It sold a total of 90m shares, raising around $240m.
Following their debut, the shares soared to SR: 30 ($8.00) on the first day, before falling back to SR: 27 ($7.20) by close on Wednesday.
Northern Region Cement is the 13th cement company to list its shares on the Saudi exchange.
Source:
http://www.uaecement.com/newsDetail.aspx?id=800
