With the acceleration of offers, the Saudi market continues to rise to levels record

The main Saudi stock index “TASI” closed the session on Tuesday, in up by 0.12%, gaining 13.32 points, and closing at the level of 11,382.41 points, with transactions exceeding 8.8 billion riyals.

The share of the oil giant Aramco was the highest and traded in today’s session, rising by 3.56% to 36.35 riyals, with a total turnover of over 1.13 billion riyals.

The levels of the “TASI” index close to 11,500 points are described as the highest in 13 years and the index is also receiving support from an unprecedented wave of initial offerings, Through 13 initial offers, they were covered in huge proportions.

The Saudi stock market is expected to see 17 new offers in the next three months, after the head of the Saudi Capital Market Authority, Muhammad Al-Quwaiz, confirmed that the target for the year in course is 30 quotes.

With 13 companies offered in the last phase of questyear, 17 are planned for the remaining three months of the year.

The Saudi market index closed the session on Monday, in up 0.14%, gaining 16.23 points and closing at 11369.09 points, with transactions of over 8.11 billion riyals, and the petrochemical sector led the gains.

Arabian Internet and Communications Services Company “solutions by stc”, together with financial advisors “HSBC Saudi Arabia”, “Morgan Stanley Saudi Arabia” and “Al Ahli Capital”, announced the successful completion of the retail underwriting process for the its public offer.

He explained that the segment of individual subscribers saw the participation of about 1.04 million individuals, with coverage above the target of about 2.365%, and requests for a value of 8.6 billion riyals.

A minimum of two shares have been assigned to each individual subscriber who is the subject of the subscription request, while the remaining shares will be assigned pro-rata. in based on the volume of each subscriber’s request to the total of the remaining shares to be subscribed, with an allocation ratio of 0.5776% in media.

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