In an interview with Al Arabia, Mohammed al-Omran, a member of the Saudi Economic Association, warned against exaggerating the price of subscriptions because of the great interest of financial institutions in entering into initial concessions, with the presence of more than 90% of them in the light, compared to 10% for individuals.
Al-Omran said that apart from the allocation process, allowing companies to enter subscriptions without cash increased the number of ballots in large numbers, while previous IPOs offered by Aramco, for example, had to be paid in cash.
What we see at the moment is a warning about the severity of the coverage Large and above the price range, Due to the lack of money transfer requirements, we are closer to short-term speculation than to long-term investment and from companies that are considered strategic investors.
He explained that this practice does not harm the reputation of the companies, but it may increase the risk of affecting the value of the shares in the future. Because if this happens, it will be a negative indicator and it will create sales pressure.
Saudi Arabia’s main stock index fell 0.08% to close at 11,827.48, down 9.1 points, with a value of 6 billion riyals.
The volume of shares traded was 159 million shares, shared by more than 290 thousand contracts, of which the shares of 46 companies recorded an increase in their value, while the shares of 144 companies were closed.
Shares of Al-Waha, Taiba, Mahara, ACWA Power and Bupa Arabia were the top gainers, while shares of Fatih Group, Abu Moti, Dalla Health, Saderat and Al-Abdullatif were the biggest gainers. And fall rates are between 9.96% and 4.18%.
Shares of Dar Al-Arkan, Taiba, Maharah, Markaz, Saudi Kayan were the most active in terms of volume, while shares of Mahara, Taiba, Al-Raji, Al-Arabia and ACWA Power were higher. Active in value.
The Saudi Associate Stock Exchange (NOMU) closed today, down 109.56 points, closing at 24,170.36 points, with transactions worth 20 million riyals, and the volume of shares traded reached more than 220 thousand shares through 1644 contracts.
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