By: Mohamed Idris
Riyadh – Mubasher: The Saudi Stock Exchange (Tadawul) saw 150 private transaction in the last ten sessions, distributed over 55 firms.
During the aforementioned transactions, 54 million shares were exchanged at a value if SAR 2.26 billion.
Board members and partners' sale of some stakes in the first quarter of the year cleared the way for new investors to execute private transactions, technical analyst Abdul Wahab Al Waheebi told Mubasher on Wednesday.
Moreover, some foreign banks exited from Saudi ones, Al Waheebi added, attributing that to probable restructuring in those foreign banks or out of the need for new liquidity.
The analyst pinpointed the traders’ concern are unjustified and results from transactions coinciding with market declines, with the approach of the first quarter’s financial statements.
Saudi Telecom Co (STC) topped private transactions in terms of value with a share of 13% of the total, executing four transactions with a total value of SAR 303 million after exchanging 4.6 million shares.
Yansab came second with 10% of total. The company executed seven transactions at a value of SAR 225.7 million.
Regarding the highest number of transactions, Bupa Arabia topped with 141 transactions at a total value of SAR 81.8 million after exchanging 647.3 million shares.
