SMASCO plans to offer 120 million ordinary shares under the symbol 1834 Image Credit: Bloomberg

Dubai: Saudi Manpower Solutions Company (SMASCO) begins trading its shares on the Main Market of the Saudi Exchange (Tadawul), according to Tadawul's disclosure,

The stock will observe daily and static price fluctuation limits of +/- 30 per cent and +/- 10 per cent, respectively starting June 12.

These fluctuation limits will be in effect for the first three days of listing until June 14. Afterward, starting from the fourth trading day, the daily price fluctuation limits will return to +/- 10 per cent, while the static price fluctuation limits will be lifted.

SMASCO plans to offer 120 million ordinary shares, equivalent to 30 per cent of its issued share capital, under the symbol 1834.

In May, following the Capital Market Authority's (CMA) approval of the IPO on March 13, 2024, the company set the final price for its initial public offering (IPO) at $2 (Dh7.35) per share.