- When will TAQA Arabia start trading?
- Is this an IPO?
- What is the opening price?
- Does this stock have T0 trading?
- Who is TAQA Arabia?
TAQA Arabia, an energy generation & distribution company, will be the first company to list on the EGX in 2023.
When will TAQA Arabia start trading?
Trading is set to start on Sunday 9th July as per the EGX announcement.
You will be able to place limit orders after 2:30pm Thursday 6th July through the Thndr app. These orders will be queued and sent to the EGX once the market opens on Sunday.
Starting Sunday 9th July at 10am, you will also be able to place market orders.
Is this an IPO?
This is not an IPO, it’s a direct listing which tends to happen when the company listing is a subsidiary of a company that’s already listed on the EGX. In this case, TAQA Arabia is a subsidiary of Qalaa Holdings.
This means that the initial share price could be more volatile, however, as an investor there is no risk for over or undersubscription.
What is the opening price?
The opening price has been set at EGP 0.5 and there will be no price limits on the first day of trading. This means that on the first day of trading the stock price will fluctuate freely based on supply and demand.
Does this stock have T0 trading?
TAQA is not available for same day trading (T0).
Who is TAQA Arabia?
TAQA Arabia was established in 2006 & is based in Cairo. They operate mainly in Egypt with projects in Middle Eastern & African countries including the UAE, Qatar, Jordan and Libya.
TAQA has four direct subsidiaries operating in petroleum, gas, power, & water sectors, making it an integrated energy & utilities company.
You can read more about TAQA here.