Saleh Abdulaziz Al Rashed Sons Co. will debut on the Saudi Stock Exchange (TASI) on March 11 under the ticker symbol 1324. The company floated 5.58 million shares at SAR 45 each, representing 30% of its SAR 186 million capital. During the initial three trading days, price fluctuations will be capped at ±30% daily and ±10% static limits, reverting to ±10% daily limits from the fourth day onward. Retail investors oversubscribed the offering by 161%, with 38,316 investors placing SAR 121.5 million in orders. Minimum allocations of 10 shares per investor were guaranteed, with remaining shares distributed pro rata at 55.7%. The IPO marks a significant milestone for the Saudi equity market, expanding investment opportunities and diversifying TASI. High retail participation highlights growing domestic investor confidence in local listings. Traders should monitor early price volatility due to the relaxed limits after the first week. The company’s performance could influence broader market sentiment, particularly in the construction and real estate sectors. For Gulf investors, the listing provides exposure to a regional construction firm with potential growth linked to Saudi Arabia’s Vision 2030 projects. Key watchpoints include post-listing liquidity, order book dynamics, and how the stock compares to peers in the construction sector. Analysts may assess valuation metrics against industry benchmarks to gauge long-term potential.
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