UCIC shares to debut on TASI on May 27
The Saudi Exchange (Tadawul) announced that shares of United Carton Industries Co. (UCIC) will be listed and start trading on the Main Market (TASI) on May 27, with the symbol 1323 and ISIN Code SA16AGP0KLH7.
The stock will trade with daily and static price fluctuation limits of +/- 30% and +/- 10%, respectively during the first three days of 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.
In a separate statement, the Securities Depository Center Co. (Edaa) announced the deposit of UCIC subscribed securities into the accounts of eligible shareholders today, May 26.
UCIC issued 2.4 million shares to retail investors, representing 20% of the total offered shares of 12 million, at SAR 50 each, according to data available with Argaam. The institutional offering was nearly 126x covered, while the retail subscription was 8.9x covered. As many as 396,600 retail subscribers injected about SAR 1.07 billion.
The company operates with SAR 400 million in capital, divided into 40 million shares, at a nominal value of SAR 10 each.
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