JEDDAH : ARAB NEWSThe Tadawul All-Share Index slipped 0.5 percent on Tuesday, easing off Monday's 63-month high. Investors booked gains in banks; the sector's measure shed 0.8 percent. Shares in Riyadh -based building materials firm Bawan Co. jumped to SR39.60 on their first day of trade from an initial public offer price of SR36.00. The Capital Market Authority has this year limited first-day trading moves to 10 percent, and the stock quickly went limit-up. "To make the same amount of profit on IPOs as before, people will need to wait a few days," said Abdullah Alawi , assistant general manager and head of research at Aljazira Capital . Previously, debut leaps of 50 percent or more were common and were often followed by sharp pull-backs.
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