Mon Mar 24 10:20:00 UTC 2025: ## Umm Al Qura Development Soars 30% on Saudi Stock Market Debut
**Riyadh, Saudi Arabia – March 24, 2024** – Shares of Umm Al Qura for Development and Construction Co. (UQDC) enjoyed a spectacular debut on the Saudi Tadawul (TASI) Main Market today, surging 30% to SAR 19.50. The stock, listed under the symbol 4325, opened at SAR 15, experiencing a rapid increase fueled by high demand.
Trading volume was robust, with 8.5 million shares exchanging hands for a total turnover of SAR 165 million across approximately 9,500 transactions. The initial public offering (IPO) saw 130.79 million shares (9.09% of the company’s capital) offered to the public, with institutional investors receiving 90% of the allocation and retail investors the remaining 10%. The offering was heavily oversubscribed, with retail subscriptions reaching 20 times oversubscription and institutional subscriptions reaching a remarkable 241 times.
The company’s strong market entry reflects investor confidence in UQDC’s future prospects. For the first three trading days, the stock will have daily and static price fluctuation limits of ±30% and ±10%, respectively. Thereafter, the daily fluctuation limit will revert to the standard ±10%.
First Piper 