Saudis shop at a supermarket at the Panorama Mall in the capital Riyadh on May 22, 2020.
Fayez Nureldine | AFP | Getty Images
Shares of Saudi Arabian retailer BinDawood Holding rose on Wednesday as the firm made its market debut on the kingdom’s stock exchange.
BinDawood Holding’s stock opened at 105.60 Saudi riyals on the Tadawul, hitting its daily limit. That’s up from its offering price of 96 riyals ($25.60), which was at the top end of the 84 riyals to 96 riyals per share range.
The supermarket operator, which is listing 20% of its shares publicly for the first time, saw a subscription of 4,870% of the total offered shares.
Ahead of the market open, Ahmad BinDawood, chief executive…