Latest news with #SaudiExchange
Zawya
2 days ago
- Business
- Zawya
Saudi Exchange unveils amendments for securities to enhance market efficiency
Riyadh – The Saudi Exchange (Tadawul) has amended the structure of its minimal incremental price movement bands, known as tick size bands, for both the Main and Parallel (Nomu) Market securities, excluding debt instruments. Tadawul is expanding the applicability of smaller tick sizes, which will enable more precise pricing and enhance overall market efficiency, according to a press release. Increasing the applicability of smaller tick sizes will also minimize spread constraints, thereby reducing trading costs for investors. Moreover, the amendments also include a band for securities priced at or above SAR 500. Mohammed Al Rumaih, the CEO of the Saudi Exchange, said: "At the Saudi Exchange, we have long been committed to fostering an advanced capital market that caters to the evolving needs of investors.' Al Rumaih elaborated: 'These enhancements to tick sizes are the result of our close engagement with market participants and ensure that the Saudi Exchange remains highly competitive and attractive to investors around the world.' The CEO concluded: 'These changes will offer many benefits, including lower trading costs, fairer prices, and a smoother trading experience for investors.' The new structure introduces expanding the applicability of smaller tick size bands, in addition to an additional band for securities priced at SAR 500 and above to maintain an appropriate range of spreads across price bands. The implementation of these enhancements is part of the efforts of Saudi Tadawul Group and its subsidiaries to develop the Saudi capital market, in line with the objectives of the Financial Sector Development Program (FSDP) and reinforce its position as a globally attractive investment destination. All Rights Reserved - Mubasher Info © 2005 - 2022 Provided by SyndiGate Media Inc. (
Zawya
2 days ago
- Business
- Zawya
EFG Hermes leads Specialized Medical Company's debut on Tadawul
Egypt - EFG Hermes, an EFG Holding Company, closed its advisory on the $500 million initial public offering (IPO) of Specialized Medical Company (SMC), marking its third IPO in the healthcare sector over the past 12 months. The company began trading on the Main Market of the Saudi Exchange (Tadawul) on 26 June under the ticker 4019, according to a press release. The Saudi group offered a total of 30% of its total issued share capital through the sale of 75 million ordinary shares at SAR 25 per share, implying a market cap of SAR 6.25 billion ($1.66 billion). The orders recorded during the institutional book-building crossed SAR 121.30 billion, representing a coverage of 64.7x. Karim Meleka, Co-Head of Investment Banking at EFG Hermes, said: 'Despite heightened geopolitical tensions in the region, the offering attracted overwhelming interest from a diverse base of local, regional, and international investors — a clear vote of confidence not only in SMC's fundamentals but also in the resilience of Saudi Arabia's capital markets and the strength of its macroeconomic outlook.' EFG Hermes acted as a joint financial advisor, joint bookrunner, and joint underwriter on the transaction. The company recently concluded its advisory on the listing of U Consumer Finance (Valu) on the Egyptian Exchange (EGX).
Argaam
2 days ago
- Business
- Argaam
Tadawul announces amended tick size regime
The Saudi Exchange (Tadawul) announced amendments to its minimal incremental price movement bands of traded securities on an order book (tick size bands) for the Main Market (TASI) and the Nomu-Parallel Market, excluding debt instruments. These changes, slated to come into effect as of June 29, further align Tadawul with best global practices, according to a statement. The new tick size regime introduces thinner price spreads. This is besides an additional band for securities priced at SAR 500 and above in order to maintain a sound minimum price variation. Earlier today, June 26, Tadawul canceled all outstanding orders after today's market close, ahead of the announcement of the amended tick size scales.
Argaam
2 days ago
- Business
- Argaam
Tadawul unveils streamlined stock split process to ensure prompt portfolio tweaks
The Saudi Exchange (Tadawul) announced today, June 26, changes to its stock split mechanism, thus ensuring that changes in share quantities and nominal values are reflected in investors' portfolios immediately. Accordingly, the adjusted shares are tradable as of the first trading session after the stock split decision is passed, according to a statement. This streamlined stock split process should support investors in making faster, more informed investment decisions, ensuring no misalignment in the stock price and share quantity during its implementation, the statement noted. Related benefits for investors most notably include: - Immediate reflection of the adjusted share quantity and price from the first trading session after the stock split decision is approved, being reflected in investors' portfolios immediately. - Adjusted stocks will be tradable from the first trading session as of the stock split decision's approval date. - More efficient portfolio tracking and management on the day of the stock split for investors. - Alignment with global best practices. This enhancement is operational in nature and does not impact the procedure of stock splits or its requirements for listed companies. Issuers intending to split their stocks can continue to do so without any change to existing mechanisms. It also noted that this enhancement will take effect as of July 1.
Argaam
2 days ago
- Business
- Argaam
Tadawul cancels outstanding orders amid tick size changes
The Saudi Exchange (Tadawul) canceled today, June 26, all outstanding orders after market close to prepare for upcoming changes to price tick size bands on the Main Market (TASI) and Nomu-Parallel Market.
