Riyadh – Mubasher: The Saudi gold and jewelry manufacturer L’azurde will commence its trading activity on the Saudi bourse (Tadawul) today under the code (4011).
With a 10% fluctuation limit, the stock is listed under the retail stock index.
L’azurde’s listing is the fourth operation on Tadawul this year following the registration of Al Andalus Property, MEAHCO, and Al Yamamah Steel Industries.
Earlier, the company floated 12.9 million shares on the Saudi bourse at SAR 37 each in a two-tranche initial public offering, of which 3.87 million shares (30%) were allocated to retail investors, while 9.03 million shares were offered to institutions.
The jewelry designer currently operates with SAR 430 million, divided into 43 million shares at SAR 10 each.
