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23% of the liquidity traded in the Saudi stock market today went to Anaam Holding Company, where the value of transactions in its shares was around 3.1 billion riyals, compared to 13.42 billion riyals in the total market liquidity.
This comes despite the fact that the company is one of the weakest in the market in terms of free (tradable) shares with around 10.5 million shares.
About 27.4 million shares of the company were traded, meaning shares equivalent to 2.6 times the number of free shares of the company were traded, with revenue of 164% in only one session.
During trading, the company’s stock opened at the lowest rate of 101.4 Riyals, while the highest price was 122.6 Riyals, a difference of 21% between the two prices.
From October 28 to November 12 (12 sessions), the company recorded a higher rate in the full 12 sessions, increasing its share from 65 riyals to 202.8 riyals, an increase of 212%.
The stock closed yesterday at 114 riyals, meaning the company saw a 318% increase since the start of the year, with its share closing at 27.3 riyals at the end of 2019.
At the end of the nine months of this year, the company recorded losses of 1.3 million riyals, compared to 10.9 million riyals for the same period last year, a drop of 88.1%.
While the company lost 2.2 million riyals in the third quarter of this year, compared to 1.3 million riyals during the same period in 2019, an increase of 71.1%.
The company Anam had reduced and increased its capital during the current year, after its general meeting agreed last January to reduce the capital from 196 million riyals to 15 million riyals, by 92.35%, this which means a reduction of 92.35 shares for every 100 existing shares, in order to extinguish the accumulated losses. Amount to 181 million riyals, or 92 percent of the share capital before the reduction.
Last October, the company increased its capital by offering priority rights shares of 600% of the issued capital, to increase its capital from 15 million riyals to 105 million riyals.
Economic Reports Unit
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