Riyadh-Mubasher: Zain KSA stock extended its upward trend for the third straight session, hitting its highest since 7 December 2015 amid a strong trading activity.
The stock rose 9.43% or SAR 0.75 to SAR 8.70 at 2:30pm Riyadh time. A total of 18.75 million shares were exchanged through 4,060 transactions at a turnover of SAR 157.87 million.
Sources told Reuters that the Kuwaiti parent company is studying some offers to sell telecom towers in Kuwait and Saudi Arabia.
They added that if the deal is completed, the sale proceeds will be used in repaying some debts.
Tadawul All-Share Index – TASI rose 1.56% or around 100 points to 6,494.
