Saudi Tadawul Group opens almost 10% above listing price

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A Saudi woman walks at the Saudi stock market (Tadawul), in Riyadh, Saudi Arabia March 9, 2020. REUTERS/Ahmed Yosri/File Photo

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DUBAI, Dec 8 (Reuters) - Shares in Saudi Tadawul Group, the owner and operator of the kingdom's bourse, opened almost 10% above its listing price in its Riyadh market debut on Wednesday.

The bourse's shares were priced at the top of the range last week, at 105 riyals ($27.99) per share. They opened at 115.4 riyals on Wednesday.

Saudi Tadawul Group raised 3.78 billion riyals ($1.01 billion) via an initial public offering (IPO) that was 121 times oversubscribed. read more

($1 = 3.7513 riyals)

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Reporting by Hadeel Al Sayegh; editing by Jason Neely

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