The shares of the Saudi company specializing in the manufacture of perfumes rose by 30 percent, which is the maximum rise for the stock in the first three sessions of trading, to reach 122.2 riyals per share, compared to the offering price of 94 riyals.
The company sold a stake representing 30 percent of its shares in an initial public offering for about $188 million, and the offering was covered by about 156.5 times.
And it was founded Al Majid Oud In 1956, it has grown since then to own 237 stores in Saudi Arabia and 49 other stores in the Gulf region as of the end of last year.
The company achieved profits worth 767 million riyals ($204.4 million) last year, with a profit margin of 66.6 percent.
